Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: This week fund analysts reveal upgrades for Old Mutual and Stewart Investors, and a re-rating for Schroder

Morningstar Analysts 15 May, 2018 | 11:47AM


Old Mutual UK Smaller Companies Focus – Bronze

Simon Dorricott

Old Mutual UK Smaller Companies Focus has been upgraded to a Morningstar Analyst Rating of Bronze from Neutral. The fund has been managed by Nick Williamson since the start of 2016, and he has shown exceptional performance over this short period of time. This is his first fund management role, but he has considerable experience as an analyst and has adopted the pragmatic team investment approach. Support is provided in terms of both top-down and bottom-up research. The combination of Williamson’s diligent application of the approach and our high regard for the team itself results in this positive rating.

Stewart Investors Asia Pacific FundSilver

Simon Dorricott

Stewart Investors Asia Pacific has been upgraded to a Morningstar Analyst Rating of Silver from Bronze. The fund is managed by Ashish Swarup, who became a portfolio manager at the group in 2016 and took over this fund in July of that year from Angus Tulloch. The upgrade reflects our increased confidence in his application of the broad Stewart Investors approach, which has been confirmed both qualitatively and quantitatively. He is clearly using the research produced by the team members covering Asia equities, and the portfolio continues to reflect the expected biases and performance pattern we associate with this investment approach. 

Re-rated from Under Review

Schroder European Recovery – Neutral

Jonathan Miller

A wholesale change is taking place with Schroder European Opportunities, which has been renamed to Schroder European Recovery. Steve Cordell, and his business cycle approach, is being replaced by Andrew Lyddon and Andrew Evans, who sit in the Schroders value team. The duo currently run a pan-European value fund, but the mandate here excludes the UK. We have a positive view on the process but believe the managers need time to hone portfolio construction and build knowledge of a broader universe of continental European ideas. We therefore assign a Morningstar Analyst Rating of Neutral, the fund having previously been placed Under Review.

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
Merian UK Smaller Coms Foc A GBP Inc18.43 GBP-0.17
Schroder European Recovery C Acc847.52 GBP0.49
Stewart Investors Asia Pacific B Acc GBP1,490.78 GBP-0.29

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