Funds rebound in latest FE Crown Fund Ratings rebalancing

FE, the fund data and services provider, has reported that 19 funds significantly improved their FE Crown Fund Rating scores compared to their position at the last rebalancing in July 2012.

Some 12 funds improved their rating from one to four FE Crowns, while 14 rose from two to five FE Crowns.

The biggest improvement from one to five FE Crowns was achieved by five funds:
JP Morgan Multi Manager Growth, EFA Clarion Explorer Portfolio Return, Sentinel Enterprise Portfolio, Henderson UK Property, and CF Ruffer Pacific.

Funds were judged according to their three year track records to 31 December 2012 and ranked according to alpha generation, volatility and the consistency with which they have beaten their benchmarks. The top 10% of funds were awarded five FE Crowns and the following 15% received four FE Crowns.

Seven funds achieved the top rank of five FE Crowns in their first rating – funds must have a three year track record to be rated: Henderson European Special Situations, CIS Sustainable Diversified, Newton Managed Income, CIS Sustainable World Trust, Santander Investment Income Portfolio, Evenlode Income, and Santander Sterling Government Bond.

Rob Gleeson, head of FE Research (pictured), said: “The current rebalancing saw, as expected, an above average movement in the FE Crown Fund Ratings scores, with several funds seeing big improvements or significant downgrades. The undulation of recent years, with a post credit crunch rally followed by another correction in 2011 and the strong performance last year, has made it a difficult environment for funds; with both aggressive and defensive strategies doing well at various times over the last three years. The movement in the ratings this time round show the re-emergence of growth strategies as the dominant source of returns.”


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