Rating upgraded

JO Hambro CM UK Dynamic - Rating upgraded

Rating downgraded

BlackRock UK Special Situations - Downgraded

Rating downgraded

JPM US - Downgraded

Rating downgraded

M&G American - Downgraded

Rating downgraded

GAM Star GAMCO US Equity - Downgraded

Suspended

Findlay Park American - Rating suspended

New Rating

Cullen North American High Dividend Value - New rating

New Rating

Dodge & Cox Worldwide US Stock - New rating

New Rating

Invesco Perpetual Global Targeted Returns - New rating

Suspended

Henderson European Selected Opportunities - Rating suspended

Rating downgraded

Henderson UK Property - Downgraded

Rating downgraded

Starwood European Real Estate Finance (SWEF) - Downgraded

Rating downgraded

TR Property IT (TRY) - Downgraded

Rating downgraded

Premier Pan European Property Share - Downgraded

New Rating

UK Commercial property trust - New rating

Rating downgraded

Aviva Investors Property - Downgraded

Rating downgraded

Investec Enhanced Natural Resources - Downgraded

Rating downgraded

Gold Bullion Securities - Downgraded

Rating downgraded

ETFS Physical Gold - Downgraded

Rating downgraded

BlackRock World Mining Investment Trust - Downgraded

Rating downgraded

City Natural Resources High Yield Investment Trust - Downgraded

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First State Global Resources - Downgraded

Rating downgraded

BlackRock Gold & General - Downgraded

Rating downgraded

Threadneedle Enhanced Commodities - Downgraded

Rating downgraded

Fulcrum Commodity - Downgraded

Rating downgraded

JPM Natural Resources - Downgraded

Suspended

LXB Retail Properties - Rating suspended

Rating downgraded

Schroder Global Real Estate Securities (SGRE) - Downgraded

Rating downgraded

Schroder Global Property Income Maximiser - Downgraded

Rating downgraded

Schroder Global Property Securities - Downgraded

Rating downgraded

Legg Mason US Smaller Companies - Downgraded

Suspended

Legg Mason US Smaller Companies - Rating suspended

New Rating

Legal & General All Stock Gilt - New rating

Suspended

Ignis Absolute Return Government Bond - Rating suspended

Rating downgraded

M&G Recovery - Downgraded

Rating upgraded

F&C UK Real Estate Investments (FCRE) - Rating upgraded

New Rating

Kames Property Income - New rating

Suspended

Ediston Property (EPIC) - Rating suspended

Suspended

Veritas Global Equity Income - Rating suspended

New Rating

Ediston Property - New rating

New Rating

Standard Life Equity Income IT - New rating

Rating downgraded

Schroder Global Property Income Maximiser - Downgraded

Rating downgraded

Schroder Global Property Securities - Downgraded

New Rating

Unicorn UK income - New rating

New Rating

JO Hambro CM UK Dynamic - New rating

New Rating

Majedie UK Equity - New rating

Suspended

Unicorn UK Income - Rating suspended

New launch

Woodford Equity Income

New Rating

JPM Europe Dynamic ex UK - New rating

New Rating

Woodford Equity Income - New rating

New Rating

JO Hambro CM UK Equity Income - New rating

New Rating

Ignis Absolute Return Government Bond - New rating

Suspended

F&C Macro Global Bond - Rating suspended

Rating downgraded

L&G Dynamic Bond fund - Downgraded

Suspended

Legal & General bond funds - Rating suspended

New launch

John Laing Environmental Assets Group (JLEN)

New Rating

GAM Star Technology - New rating

Suspended

Newton Higher Income Fund - Rating suspended

New launch

Renewables Infrastructure Group C-share (TRGC)

New Rating

Renewables Infrastructure Group C-share (TRGC) - New rating

New Rating

John Laing Environmental Assets Group (JLEN) - New rating

New launch

TwentyFour Select Monthly Income (LSE:SMIF)

Rating upgraded

Standard Life UK Equity Income Unconstrained - Rating upgraded

Rating downgraded

Artemis Income - Downgraded

New Rating

TwentyFour Select Monthly Income (LSE:SMIF) - New rating

New Rating

GCP Infrastructure C-shares - New rating

New Rating

iShares £ Corporate Bond 1 to 5 years - New rating

Suspended

3i Infrastructure (3IN) - Rating suspended

Suspended

Schroder UK Core - Rating suspended

New Rating

HSBC FTSE 250 Index - New rating

New Rating

Morgan Stanley Diversified Alpha Plus - New rating

New Rating

Edinburgh Investment Trust - New rating

Rating downgraded

Redefine International (RDI) - Downgraded

Suspended

Investec UK Alpha and UK Smaller Companies - Suspended

Suspended

BlackRock Commodities Income - Suspended

New Rating

F&C Global Real Estate Securities - New rating

Rating downgraded

Schroder Global Property Securities - Downgraded

Rating upgraded

SWIP Property Trust - Rating upgraded

Rating upgraded

M&G Property Portfolio - Rating upgraded

Rating upgraded

Henderson UK Property - Rating upgraded

Rating downgraded

Schroder Global Property Income Maximiser - Downgraded

Suspended

Findlay Park American - Rating suspended

The investment objective of the Findlay Park American Fund is to achieve capital growth principally through investment in the securities of companies in the Americas. The Fund aims to achieve a return above the performance of the Russell 1000 Net 30% Total Return Index, which is a mid and large cap index. It has some holdings in Canada and Latin America.

This fund is currently closed to new investments.

The fund has a great track record, with the same lead portfolio managers being in place since it was launched in 1998. However the best performance was in its early years when it was a small fund and invested solely in US small cap stocks. As the fund has grown (it is now US$11 billion in size) it has had to move away from investing in the small cap arena. It is now a mix of large and mid-cap stocks only. The managers now prefer to invest in companies with a market cap range of US$10 billion to US$50 billion. The management team has changed too, with several new hires. The CIO is instilling more rigour into the investment process which includes whittling the number of stocks down from 170 to 100. Meanwhile performance has slipped.

We have suspended the fund’s rating until the new investment process has settled down.

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. Different funds carry varying levels of risk depending on the geographical region and industry sector in which they invest. You should make yourself aware of these specific risks prior to investing. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk Current or past yield figures provided should not be considered a reliable indicator of future performance. This article is not a personal recommendation or advice to invest.