Rating downgraded

Legal & General Dynamic Bond – Downgraded

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Artemis Strategic Bond – Downgraded

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Fidelity Global Inflation Linked Bond – Downgraded

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Goldman Sachs High Yield Portfolio – Downgraded

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Invesco Perpetual High Yield – Downgraded

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Invesco Sterling Bond – Downgraded

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Newton International Bond – Downgraded

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PIMCO Diversified Income – Downgraded

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PIMCO Emerging Markets – Downgraded

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Royal London Duration Hedged Credit – Downgraded

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Templeton Global Bond – Downgraded

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Legg Mason IF Royce US Smaller Companies - Downgraded

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GAM Star GAMCO - Downgraded

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GAM International Growth & Value - Downgraded

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M&G Global Leaders - Downgraded

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Artemis Global Growth - Downgraded

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Aberdeen Global World Equity/Aberdeen World Equity - Downgraded

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CF Odey Opus - Downgraded

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Standard Life UK Equity High Income - Downgraded

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Artemis Capital - Downgraded

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Franklin UK Equity Income - Downgraded

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Fidelity Special Situations - Downgraded

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Jupiter UK Growth - Downgraded

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Old Mutual UK Mid Cap - Downgraded

New Rating

Aviva Investors Multi-Strategy Target Income - New rating

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Man GLG Japan CoreAlpha Professional - Downgraded

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AXA Framlington UK Smaller Companies - Downgraded

Suspended

AXA Framlington UK Smaller Companies - Rating suspended

New Rating

Evenlode Income - New rating

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Lazard Global Listed Infrastructure Equity - New rating

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MedicX Fund - Downgraded

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Fidelity UK Smaller Companies - Downgraded

New Rating

Henderson UK & Irish UK Smaller Companies - New Rating

Rating upgraded

Newton Global Income - Upgraded

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Alliance Trust - Downgraded

New Rating

Fidelity Global Dividend - New rating

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Newton Asian Income - Downgraded

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Henderson European Selected Opportunities - Downgraded

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Schroder European Alpha Plus - Downgraded

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AXA distribution – Rating suspended

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Trojan Income - New rating

New launch

Jupiter Asian Income

New Rating

Jupiter Asian Income - New rating

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First State Greater China Growth - Upgraded

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Guinness Global Energy - New rating

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SSGA SPDR Barclays US Treasury Bond ETF GBP - New rating

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Vanguard US Government Bond Index GBP Hedged - New rating

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Jupiter Merlin Growth Portfolio - Downgraded

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Jupiter Merlin Worldwide Portfolio - Downgraded

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BlueCrest AllBlue - Downgraded

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Henderson European Selected Opportunities - Downgraded

Following a review of our recommended fund list we have put a 1* switch rating to this product owing to the availability of higher conviction alternatives elsewhere.

In November 2014 we took off the two stars rating from Henderson European Selected Opportunities (HESO) fund, suspending its rating, while retaining the four stars rating for the Henderson European Focus (HEF) fund, both managed by John Bennett. As we have greater conviction in the HEF fund we have put a 1 star switch rating on the HESO fund. The HEF fund is the more condensed version of the HESO fund, and features less stocks. This way John Bennett can put more conviction in each portfolio position, constructing the “best ideas” fund from good ideas in the Opportunities fund. Other alternatives clients might consider switching into include:

  • Threadneedle European Select
  • Jupiter European
  • Standard Life European Equity Income
  • HSBC European Index.

We have assigned the 1 star switch rating to this fund.

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. Underlying investments in emerging markets are generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could both increase or decrease. These investments therefore carry more risk. Current or past yield figures provided should not be considered a reliable indicator of future performance. This is not advice to invest.