Legg Mason IF Royce US Smaller Companies - Downgraded
We recently carried out a review of funds that have a Bestinvest star rating and we have downgraded a number of them to one star. Legg Mason IF Royce US Smaller Companies is one of them.
Given the manager’s value-leaning, contrarian approach, performance has lagged badly. A recent concentration in cyclical areas has also worked against it. We have higher conviction in T Rowe Price US Smaller Companies Equity and Schroder US Smaller Companies.
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. This is not advice to invest.
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