Rating Downgrades for Thames River Funds

Morningstar OBSR analysts have downgraded five different Thames River funds

Alanna Petroff 28 September, 2012 | 3:53PM

Morningstar OBSR analysts have downgraded their ratings on five different funds within the Thames River Multi-Manager fund range. The funds are now rated Bronze, compared to a previous rating of Silver.

A report released by Morningstar OBSR states:

"While we acknowledge the experience and strength of the Thames River team and the consistency of their investment process, the funds’ return profile has become less compelling relative to peers. The volatile and macro-driven market conditions of the last few years have been challenging and we think the team’s main strength is in fund selection rather than asset allocation. We think a Bronze rating is a better reflection of our conviction in [these] funds at the current time."

The following funds were all downgraded and given Bronze ratings:
- Thames River Global Boutiques (Research Report)
- Thames River Equity Managed (Research Report)
- Thames River Balanced Managed (Research Report)
- Thames River Cautious Managed (Research Report)
- Thames River Distribution (Research Report)

Morningstar’s analyst fund ratings range from Gold to Negative. The ratings indicate whether Morningstar analysts are optimistic about a fund’s future performance. A Gold rating indicates Morningstar analysts think highly of a fund and expect it to outperform its peers and relevant index over a full market cycle of at least five years. Silver and Bronze ratings also indicate positive sentiment from Morningstar analysts. A Neutral rating indicates that Morningstar analysts believe a fund isn’t likely to deliver standout returns but also isn’t likely to significantly underperform. A Negative rating indicates Morningstar analysts believe the fund is inferior compared to its peers and has at least one flaw that is likely to significantly hamper future performance.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article
Security NamePriceChange (%)Morningstar
F&C MM Navigator Boutiques A Acc205.70 GBP0.49
F&C MM Navigator Distribution A Inc99.96 GBP0.29
F&C MM Navigator Moderate A Acc172.60 GBP0.53
F&C MM Navigator Progressive A Acc171.51 GBP0.65
F&C MM Navigator Select A Acc174.11 GBP0.58
About Author Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.