Skandia UK Best Ideas - downgrade
By STEPHEN MARRIOTT 14/10/2008
We awarded this fund a 3 star rating at launch largely because of the esteem in which we held the underlying managers, 8 out of 10 of whom were rated by Bestinvest on their own funds. However, five of them have since been downgraded by us (Mark Tyndall of Artemis, Stephen Whittaker of New Star, George Luckraft of AXA Framlington, Ashley Willing of Gartmore, Ashton Bradbury of Old Mutual) whilst the five star rated Roger Whiteoak was removed from the lineup earlier this year when he left AXA Framlington. This leaves just two of the fund’s managers rated by Bestinvest. Whilst the concept of a best ideas fund remains an intriguing one, as a result of our reduced confidence in the underlying managers we are downgrading the fund to a two star (hold) rating.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5909.53 |
0.33%
|
| FTSE 250 |
11197.00 |
0.03%
|
| FTSE All Share |
3050.19 |
0.28%
|
| FTSE Euro 100 |
2254.14 |
0.62%
|
| S&P 500 |
1347.05 |
0.20%
|
| Nasdaq |
2904.08 |
0.07%
|
| Hang Seng |
20699.19 |
0.05%
|
| Nikkei 225 |
9015.59 |
1.10%
|
Values delayed by at least 15 minutes.
Source: Financial Express