Keystone Investment Trust - Bronze

INVESTMENT TRUST RESEARCH UPDATE: Trust rating downgraded to Bronze

Jackie Beard, FCSI 30 June, 2014 | 11:54AM
Facebook Twitter LinkedIn

Following the Morningstar OBSR Analyst Ratings Meeting on 12th June 2014, we have downgraded Keystone Investment Trust (KIT)to a Morningstar Analyst Rating™ of Bronze. Previously the fund held a Silver rating. Mark Barnett is a talented fund manager with a strong track record in UK equity income; however, in taking on the management of the Invesco Perpetual Income and High Income funds, his assets under management have increased by over £20bn. Along with the departure of Neil Woodford, the UK equity team at Invesco Perpetual has also recently lost another fund manager and two analysts, departures that Mr Barnett has moved swiftly to replace. We are mindful of the considerable increase in assets under Mr Barnett’s management that may affect his investment process and portfolio construction, along with the changes to his team. However, the closed-ended nature of this fund gives some comfort that Mr Barnett can stay true to his investment style. We believe a Bronze rating is warranted at this time.

Find out more about how Morningstar analysts rate funds and investment trusts here.

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.

Facebook Twitter LinkedIn

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Keystone Positive Change Investment Ord226.50 GBX-1.95Rating

About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures