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Edinburgh Worldwide - Rating suspended
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F&C Global Real Estate Securities
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Artemis European Opportunities - New rating
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Standard Life UK Equity Income Unconstrained - New rating
Rating downgraded
M&G Recovery - Downgraded
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Franklin UK Smaller Companies - New rating
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Investec UK Alpha - New rating
Rating upgraded
Jupiter Absolute Return - Rating upgraded
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Invesco PowerShares FTSE RAFI US 1000 - New rating
Rating downgraded
Invesco Perpetual Income and High Income - Downgraded
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Battle Against Cancer Investment Trust - New rating
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Foresight Solar Fund - New rating
New launch
Lindsell train global equity
New Rating
Aviva Investors US Equity Income Fund 2 - New rating
Rating downgraded
Aviva Investors US Equity Income - Downgraded
Rating downgraded
RENN Universal Growth - Downgraded
New launch
Fidelity global enhanced income
Rating downgraded
iShares S&P 500 ETF (Inc) - Downgraded
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Vanguard S&P 500 ETF - New rating
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Martin Currie North America - Rating suspended
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iShares S&P 500 ETF (Inc) - Rating suspended
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Invesco perpetual global targeted returns
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Lazard Emerging Markets - New rating
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Old Mutual UK Alpha - New rating
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Cazenove UK Equity Income - New rating
Rating downgraded
Old Mutual UK Dynamic Equity - Downgraded
Rating downgraded
Franklin Mid Cap Fund - Downgraded
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AXA Framlington UK Mid Cap - New rating
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The Renewables Infrastructure Group (TRIG) - New rating
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BlackRock Frontiers Investment Trust - New rating
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Bluefield Solar Income - New rating
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GAM Star GAMCO US Equity - New rating
Rating upgraded
AXA US Short Duration High Yield - Rating upgraded
Rating downgraded
Jupiter Absolute Return - Downgraded
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Polar Capital Global Financials Trust - New rating
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Cazenove European - Rating suspended
New launch
Jupiter Global Equity Income
New Rating
Henderson European Focus - New rating
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Baring Europe Select - New rating
Rating downgraded
Neptune European Opportunities - Downgraded
Rating downgraded
JPM European Smaller Companies - Downgraded
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Morant Wright Nippon Yield - New rating
Rating downgraded
Blackrock UK Income - Downgraded
Rating downgraded
Fidelity UK Smaller Companies - Downgraded
Suspended
BlackRock UK Dynamic and UK Absolute Alpha - Rating suspended
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Greencoat UK Wind Investment Trust - New rating
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Schroder UK Alpha Plus and Schroder UK Growth IT - Rating suspended
New launch
TwentyFour Income fund
New Rating
Doric Nimrod Air Two - New rating
Rating downgraded
Aberdeen Emerging Markets - Rating downgraded
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Henderson Asian Growth Investment Trust - New rating
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Newton Higher Income - New rating
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Blackrock UK Income - New rating
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Threadneedle European Smaller Companies - New rating
New launch
JO Hambro CM Global Opportunities
Rating downgraded
Jupiter Absolute Return - Downgraded
The Jupiter Absolute Return fund has now delivered flat returns since launch in 2009. Over this period the manager has restricted his positions mainly to currency bets, with limited exposure to equity and bonds markets.
The manager has stated he is struggling to find high conviction opportunities, whilst at the same time he has been wary of more illiquid market conditions in other asset classes.
The manager has a strong longer-term track record but we question whether the current market backdrop is suited to his skill set. We have reduced our fund rating to two stars. The Jupiter Absolute Return fund will no longer feature on our Premier Selection list of rated funds. Investors seeking an alternative fund may wish to consider the Threadneedle UK Absolute Alpha Fund rated five stars.
Investors should be aware that Absolute funds do not guarantee a positive return and you could get back less than you invested much like any other investment. Additionally, the underlying assets of Absolute funds generally use complex hedging techniques through the use of derivative products.