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FP WHEB Sustainability

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Liontrust UK Ethical

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Man GLG Japan CoreAlpha

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Man GLG Japan CoreAlpha Equity

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Invesco Perpetual Income

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Invesco Perpetual High Income

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

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AXA Framlington UK Select Opportunities - downgrade

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Artemis US Absolute Return

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Old Mutual UK Alpha

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Unicorn UK Income

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Marlborough Special Situations

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M&G Strategic Corporate Bond - downgrade

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Woodford Equity Income - downgrade

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Jupiter UK Special Situations

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JO Hambro UK Opportunities

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Jupiter Income Trust

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Schroder ISF Asian Total Return

Rating downgraded

F&C UK Property

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Schroder UK Alpha Income

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Henderson European Focus

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CRUX European Special Situations

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Jupiter Income Trust

This is an income version of the UK Special Situations strategy with Ben Whitmore acquiring the management of the fund in January 2013. Predominantly a large-cap offering, the fund has historically operated in the two lowest quintiles based on valuation. Despite value investing typically being associated with significant levels of volatility and considerable drawdowns, Whitmore’s approach is anything but.

The fund has consistently achieved significantly lower levels of volatility relative to the broader market and a cross-section of managers operating in the UK value space, while having offered protection during stressed market environments in the past. Solid stock picking, controlling for factor exposures within the portfolio and opportunistic use of cash have all added considerable value over time.

The fund has an explicit aim of generating a level of income growth at least in line with inflation. This has been achieved over the manager’s tenure on the fund and we expect this to hold on a 3-5 year view. Whilst historically having been able to provide a premium yield to the broader market, Whitmore does not typically overreach for yield and operates on the basis of seeking attractive total returns.

The fund has been awarded a four-star rating and will feature on our top-rated funds list – our research team’s premier selection.

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.