Belgravia Épsilon, PIMCO GIS Global Bond, Odey Absolute Return funds join most highly rated on SharingAlpha

The latest monthly update of highly rated funds on the SharingAlpha platform has highlighted the Belgravia Épsilon, PIMCO GIS Global Bond and Odey Absolute Return funds as joining the list of top rated funds, as selected by the platforms users constituting professional fund selectors across Europe and beyond.

The list of 10 most highly rated funds includes four risers, two that have fallen, and the three new additions.

Highly rated funds by overall rating

FundDomicileRatingRatingsPosition
Belgravia Épsilon FISpain4.935new
Magallanes European Equity FISpain4.8319up
Cobas Selección FISpain4.827up
Vanguard US Opportunities FundIreland4.826up
ECP Flagship SICAV European ValueLuxembourg4.86up
Sextant PEAFrance4.815down
Schroder GAIA Two Sigma DiversifiedLuxembourg4.7813down
Nordea 1 – European High Yield Bd Fd IILuxembourg4.789same
PIMCO GIS Global Bond FundIreland4.7610new
LF Odey Absolute Return FundUnited Kingdom4.768new

SharingAlpha has also published updated tables of highly rated providers, most popular funds, popular categories and highly rated funds by category. The results are based on the expressed preferences and expectations of fund selectors. They review funds on the basis of three factors: people, price and portfolio.

From the scores attributed to individual funds by fund selectors, SharingAlpha can compared the performance of those funds against equivalent ETFs, to gauge the alpha generation attributable to the skill of the selector. The closer the performance of the fund to the expectation of the selector, the higher the score of the selector. This is called a ‘Hit Score’ by SharingAlpha, which can then be compared between peers to identify groups of selectors who consistently do well, exhibiting selection skills.

The platform also enables fund selectors to run funds of funds, to establish asset allocation rankings. Again, this facilitates the generation of a track record of measurable skill on the part of the selector.

Highly rated providers

ProviderFunds RatedRatingsRatingPosition
Robeco24674.6same
Fundsmith3624.56same
MainFirst9514.51new
Legg Mason12514.37new
Schroders421514.37down
Deutsche32734.37down
M&G191144.32same
GAM281094.32down
Liontrust61144.32down
Pimco34784.28down

Most popular funds

FundDomicileRatersAllocationPosition
Fundsmith EquityUnited Kingdom3822same
Old Mutual Global Equity Absolute Ret FdIreland3417same
Nordea 1 – Stable Return FundLuxembourg4214up
M&G Optimal Income FundUnited Kingdom3113up
Magallanes European Equity FISpain1912up
Allianz Europe Equity GrowthLuxembourg2811down
M&G Dynamic Allocation FundUnited Kingdom1811new
BSF European Opportunities Extension FdLuxembourg3511up
Robeco BP Global Premium EquitiesLuxembourg1610new

Popular categories

CategoryRatingAllocationPosition
Europe Equity Mid/Small Cap100100same
Market Neutral4657same
UK Equity Mid/Small Cap6035same
Africa Fixed Income3445same
Africa Equity538same
Precious Metals Sector Equity4017up
Europe Equity Large Cap3715down
Currency3417up
Asia ex-Japan Equity2922same
Africa Money Market647down

Highly rated funds by category

CategoryFundProvider
Aggressive AllocationMFS Meridian Prudent Wealth FundMFS
AllocationNordea 1 – Stable Return FundNordea
Asia ex-Japan EquitySchroder ISF Asian Total ReturnSchroders
Asia Fixed IncomeMatthews Asia Fds Asia Credit OppsMatthews Asia
Asia EquityFidelity Pacific FundFidelity
Cautious AllocationInvesco Pan European High Income FundInvesco
Greater China EquityJanus Henderson China Opportunities FundJanus Henderson
Commodities Broad BasketVontobel Dynamic CommodityVontobel
Consumer Goods & Services Sector EquityMS INVF Global Brands FundMorgan Stanley
ConvertiblesUBS (Lux) IF Global Convertible BondsUBS
CurrencyFirst Trust FactorFX ETFFirst Trust
Emerging Markets EquityAberdeen Global Emerging Markets Eq FdAberdeenStandard
Emerging Markets Fixed IncomeBGF Emerging Markets Bond FundBlackrock
Energy Sector EquityFirst Trust North Amer Engy InfrasFundFirst Trust
Europe Equity Large CapECP Flagship SICAV European ValueEuropean Capital Partners
Europe Equity Mid/Small CapMagallanes European Equity FIMagallanes
Euro Fixed IncomeGAM Star Credit Opportunities (EUR)GAM
Euro Money MarketBNP Paribas Money 3MBNP Paribas
Flexible AllocationBelgravia Épsilon FIBelgravia
Global Equity Large CapFundsmith Equity Fund FeederFundsmith
Global Equity Mid/Small CapTrue Value FIRenta 4 Gestora
Global EquityEurizon Sustainable Global EquityEurizon Capital
Global Fixed IncomePIMCO GIS Global Bond FundPimco
Market NeutralMLIS Marshall Wace Tops UCITS Fd (MN)Bank of America Merrill Lynch
Long/Short EquityArtemis US Extended Alpha FundArtemis
High Yield Fixed IncomeNordea 1 – European High Yield Bd Fd IINordea
India EquityKotak India Midcap FundKotak
Inflation LinkedSanlam Multi Mgd Inflation Lnkd BondSanlam
Japan EquityMan GLG Japan CoreAlpha EquityMAN GLG
MiscellaneousEaton Vance Global High Yield Bond FundEaton Vance
Moderate AllocationAcatis – Gané Value Event Fonds UIAcatis
MultialternativeSchroder GAIA Two Sigma DiversifiedSchroders
Other AlternativeCandriam Bds Credit OpportunitiesCandriam
Other Europe EquitySextant PEAAmiral Gestion
Other Fixed IncomeGAM Star MBS Total ReturnGAM
Precious Metals Sector EquityBGF World Gold FundBlackrock
Property-DirectSchroder UK Real Estate FundSchroders
Other Sector EquityRobecoSAM Sustainable Water FundRobeco
Real Estate Sector EquitySchroder Global Cities Real Estate FundSchroders
Natural Resources Sector EquityCarmignac Pf CommoditiesCarmignac
Technology Sector EquityPictet-DigitalPictet
Sterling Fixed IncomeGAM Star Credit Opportunities (GBP)GAM
UK Equity Large CapJupiter UK Special Situations FundJupiter
UK Equity Mid/Small CapLiontrust Special Situations FundLiontrust
US Fixed IncomeGAM Star Credit Opportunities (USD)GAM
US Equity Large Cap BlendFirst Trust Large Cap Core AlphaDEX FdFirst Trust
US Equity Large Cap GrowthMS INVF US Growth FundMorgan Stanley
US Equity Large Cap ValueRobeco BP US Premium EquitiesRobeco
US Equity Mid CapVanguard US Opportunities FundVanguard
US Equity Small CapNuveen NWQ Small-Cap Value FundNuveen
Africa EquityMarriott Dividend GrowthMarriott
Africa Fixed IncomeSTANLIB Aggressive IncomeSTANLIB

Selector comments

Users of the SharingAlpha platform have also provided comment on some of the standout funds, according to the latest monthly update.

Beatriz Hernandez Ribes –  M&G Optimal Income Fund –  “One of the best funds in the flexible fixed income universe, which in the past has shown a very good performance due to the portfolio manager’s ability to find opportunities in the fixed income market. The fund has the distinctive feature that it can invest a little percentage of the portfolio in equity markets, therefore although we are going through a tough environment within fixed income, we still have conviction on Richard Woolnough’s skill to find opportunities in the market.

Beatriz Hernandez Ribes –  Old Mutual Global Equity Absolute Ret Fd – ” It is one of the funds we would recommend in atl Capital for our allocation in the alternative space. It is a very well diversified fund with worldwide companies, and it has neutral exposure to markets. The fund has a low correlation to equity and fixed income market and uses a quantitative system to construct the longs and the shorts. This approach limits the fund volatility and in the past it was proven to obtain positive returns in bear markets.”

Ignacio Martín Ocaña –  Old Mutual Global Equity Absolute Ret Fd –  “Although an attractive long-short market neutral approach with no correlation to equity markets…I think the Fund has too much AUM (over $13bn) to manage this strategy in a comfortable way so I can’t imagine how it should perform as well as it has done in the past.”

Jose Reinosa –  Nordea 1 – Stable Return Fund –  “Mixed allocation fund with focus on capital preservation. The manager mitigates downside risks using derivatives, and the equity exposure is flexible but around 50% on average. They do some bets on currencies as well. Several decisions have hurt the performance recently, but my confidence in the strategy remains high.”

Thierry Guerillot –  Acatis – Gané Value Event Fonds UI –  “An income focused balanced portfolio. Value investing ‘à la Warren Buffet’ on the equity side with a potential of 10% per annum. Focus on US Large Cap and German mid cap equities. On the bond side, target of 6% per annum. The asset allocation is very flexible between equities and bonds and could be very aggressive (more than 70% invested in equities today). Surprisingly, a very consistent risk/return ratio as the beta vs the MSCI World is limited to 0.6. Actually, as the share of the equities in the portfolio could be high, the level of low duration bonds is structurally important.”

For further information, visit www.sharingalpha.com

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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