Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: Fund analyst updates on Fundsmith Equity, JP Morgan US, Investec Global Franchise and Franklin Mutual Beacon, among others

Morningstar Analysts 2 May, 2017 | 1:45PM
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New Ratings

Investec GSF Global Franchise – Neutral

Peter Brunt

The fund is managed by a reasonably experienced investor in Clyde Rossouw, who has been at the helm since August 2011. He follows a structured approach to investing, which aims to identify quality companies that can grow their cashflows sustainably over time. We like the process' clear structure and scalability (focusing only on stocks capitalised above USD 3 billion), but note that its implementation has resulted in a portfolio skewed to a small number of sectors in the past, including a significant overweighting to consumer staples. This proved broadly beneficial to performance as those sectors experienced tailwinds, but also brought concentration risk.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Franklin Mutual US Value A acc USD98.86 USD-1.21Rating
Fundsmith Equity I Acc6.49 GBP0.72Rating
MFS Inv Global Concentrated Equity USD421.28 USD0.23Rating
MFS Inv Global Equity USD Acc637.89 USD0.06Rating
Mirae Asset Asia Sect Ldr Eq A USD Cap19.93 USD-0.79Rating
Ninety One GSF Glb Frchs IX Acc USD45.03 USD-0.05Rating

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