Rating downgraded

Man GLG Japan CoreAlpha Equity

Rating downgraded

Man GLG Japan CoreAlpha

Rating downgraded

Invesco Perpetual Income

Rating downgraded

Invesco Perpetual High Income

Rating downgraded

Standard Life Global Absolute Return Strategies (SLIM GARS) – downgrade

Rating downgraded

AXA Framlington UK Select Opportunities - downgrade

New Rating

Artemis US Absolute Return

Rating downgraded

Old Mutual UK Alpha

Rating downgraded

Unicorn UK Income

Rating downgraded

Marlborough Special Situations

Rating downgraded

M&G Strategic Corporate Bond - downgrade

Rating downgraded

Woodford Equity Income - downgrade

New Rating

Jupiter UK Special Situations

Rating downgraded

JO Hambro UK Opportunities

New Rating

Jupiter Income Trust

New Rating

Schroder ISF Asian Total Return

Rating downgraded

F&C UK Property

Rating downgraded

Schroder UK Alpha Income

Rating downgraded

Henderson European Focus

New Rating

CRUX European Special Situations

New Rating

CRUX European Special Situations

The CRUX European Special Situations fund targets long-term capital growth by investing in a multi-cap portfolio of around 60 continental European equities. Though there isn't an explicit target, it also pays a reasonable yield.

Manager Richard Pease has a long and successful track record in the sector, having run the Jupiter European fund in the 1990s and worked for New Star in the 2000s. The European Special Situations fund was launched in 2009 when Pease worked for Henderson, and unusually he was able to take it with him when he left Henderson to set up boutique CRUX in 2015.

With a 27-year track record of strong performance Pease is clearly no flash in the pan – it is rare to be able to access such a proven manager with capacity still available. And by setting up his own company Pease gives us confidence that his interests are aligned with those of investors and that his team will remain stable.

The fund has been awarded a five star rating.

This does not constitute personal advice. If you are in doubt as to the suitability of an investment please contact one of our advisers. Past performance is not a guide to future performance. Please also read the important information below.