FP Crux European Special Situations - Bronze

FUND RESEARCH UPDATE: Fund rating moved to Bronze

Muna Abu-Habsa 24 November, 2015 | 7:41AM
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Following a recent Morningstar Analyst Ratings meeting, we have awarded the FP Crux European Special Situations fund a Morningstar Analyst Rating™ of Bronze. The fund’s rating was moved from Silver to Under Review following the announcement that Richard Pease was to leave Henderson Global Investors, moving this fund with him. This move was completed in June 2015, with the assets of the Henderson European Special Situations fund transferred to FP Crux European Special Situations. Crux is an employee-owned asset manager, set-up by Pease. The firm has hired a small number of appropriately experienced employees and given them a high degree of autonomy, leaving Pease to focus on fund management. James Milne, who has worked alongside Pease for over a decade, providing analytical support, has also joined the new entity. We think highly of Pease: his extensive experience and proven ability are central to our positive view here. Whilst we have no tangible concerns, we are expressing some caution in the fund's rating given the start-up nature of his new firm.

See the latest Morningstar fund rating news here.

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About Author

Muna Abu-Habsa  is a senior investment research analyst at Morningstar

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