Neptune European Opportunities - Bronze

FUND RESEARCH UPDATE: Fund rating downgraded to Bronze

Jeremy Beckwith 1 July, 2015 | 7:31AM
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Following a recent Morningstar Analyst Ratings Meeting, we have downgraded the Neptune European Opportunities fund to a Morningstar Analyst Rating™ of Bronze. The fund previously held a Silver rating. The fund remains a solid choice as an unconstrained European equity offering, boasting a talented and longstanding manager in Rob Burnett. However, the risk-return profile of the fund has deteriorated over recent years as the manager has made a number of ill-timed shifts in the portfolio which have resulted in significant performance variability and heavily weighed on the fund’s three- and five-year risk-adjusted returns. Whilst we continue to think very well of Burnett and expect investors to benefit from his moves to limit short-term trading and make better use of the risk management tools at his disposal, we believe a Bronze rating provides a better reflection of the fund’s relative merits.

See the latest Morningstar fund rating news here.

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About Author

Jeremy Beckwith  is Director of Manager Research for Morningstar UK