By JANE KOTCHKINA 09/12/2008
Carl Stick’s Rathbone Income fund was awarded a two star rating in June 2004 as it offered a good macro view, coupled with good stock picking ability. Although the manager’s career MRI in the UK Equity Income sector is still 99.7%, his three year MRI record has deteriorated noticeably. Growth in assets under management and then large withdrawals seem to have restricted the ability to perform in all market conditions.
Rathbone Special Situation fund has also failed to meet our expectations, for similar reasons, therefore we have decided to remove the ratings from these two funds as there are higher conviction alternatives available elsewhere.