New Rating

Premier Pan European Property Share - New rating

Suspended

Edinburgh Worldwide - Rating suspended

New launch

F&C Global Real Estate Securities

New Rating

Henderson Asia Pacific Capital Growth - New rating

New Rating

Artemis European Opportunities - New rating

New Rating

Standard Life UK Equity Income Unconstrained - New rating

Rating downgraded

M&G Recovery - Downgraded

New Rating

Franklin UK Smaller Companies - New rating

New Rating

Investec UK Alpha - New rating

Rating upgraded

Jupiter Absolute Return - Rating upgraded

New Rating

Invesco PowerShares FTSE RAFI US 1000 - New rating

Rating downgraded

Invesco Perpetual Income and High Income - Downgraded

New Rating

Battle Against Cancer Investment Trust - New rating

New Rating

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

New Rating

Vanguard S&P 500 ETF - New rating

Suspended

Martin Currie North America - Rating suspended

Suspended

iShares S&P 500 ETF (Inc) - Rating suspended

New launch

Invesco perpetual global targeted returns

New Rating

Lazard Emerging Markets - New rating

New Rating

Old Mutual UK Alpha - New rating

New Rating

Cazenove UK Equity Income - New rating

Rating downgraded

Old Mutual UK Dynamic Equity - Downgraded

Rating downgraded

Franklin Mid Cap Fund - Downgraded

New Rating

AXA Framlington UK Mid Cap - New rating

New Rating

The Renewables Infrastructure Group (TRIG) - New rating

New Rating

BlackRock Frontiers Investment Trust - New rating

New Rating

Bluefield Solar Income - New rating

New Rating

GAM Star GAMCO US Equity - New rating

Rating upgraded

AXA US Short Duration High Yield - Rating upgraded

Rating downgraded

Jupiter Absolute Return - Downgraded

New Rating

Polar Capital Global Financials Trust - New rating

Suspended

Cazenove European - Rating suspended

New launch

Jupiter Global Equity Income

New Rating

Henderson European Focus - New rating

New Rating

Baring Europe Select - New rating

Rating downgraded

Neptune European Opportunities - Downgraded

Rating downgraded

JPM European Smaller Companies - Downgraded

New Rating

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

New Rating

Greencoat UK Wind Investment Trust - New rating

Suspended

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

New Rating

Henderson Asian Growth Investment Trust - New rating

New Rating

Newton Higher Income - New rating

New Rating

Blackrock UK Income - New rating

New Rating

Threadneedle European Smaller Companies - New rating

New launch

JO Hambro CM Global Opportunities

Rating upgraded

Jupiter Absolute Return - Rating upgraded

In July 2013 former manager Philip Gibbs announced his retirement from managing the Jupiter Absolute Return fund, at which point we put the fund onto a two-star HOLD rating. James Clunie took over management of the fund from 1 September 2013 and he has now re-aligned the portfolio to match the successful strategy he ran for the SWIP UK Flexible Strategy fund, which he left in mid 2013.

We have followed Clunie for some time and have been waiting for him to settle into a stable group structure where his long-short investment strategy can flourish. We are comfortable that he has found such a home at Jupiter.

The fund now targets a 6% return per annum from a mix of long and short positions in large cap equities with a bias to UK companies.

The fund is an open-ended unit trust with daily dealing and is on fund platforms run by Cofunds, FundsNetwork and our own Online Investment Service. Unusually for an absolute return fund this has no performance fee, which it dropped on 1 November 2013.

We have increased the rating of this fund from two to four stars and it will now appear on our Premier Selection list of top-rated funds.

The value of investments can go down as well as up, and you can get back less than you originally invested. Targeted Absolute Return funds do not guarantee a positive return and you could get back less than you invested, as with any other investment. Additionally, the underlying assets of these funds generally use complex hedging techniques through the use of derivative products, which can carry additional risks which may not be immediately apparent.