Rating downgraded

Specialist First State Funds - Downgraded

New launch

Neptune launches China Max Alpha fund

New launch

Neptune Global Long/Short Sector fund

New launch

Legg Mason US Equity Income

New launch

Acuim UK Multi Cap Income Fund

New launch

JO Hambro CM Asia ex Japan

New launch

JO Hambro CM Asia ex Japan Small and Mid Cap

Rating upgraded

Legg Mason Global Credit Absolute Return - Upgraded

New launch

GAM Star Emerging Asia Equity

New launch

MFM Slater Income

Rating downgraded

Fidelity European Opportunities - Downgraded

Rating downgraded

Rensburg UK Blue Chip Growth - Downgraded

New Rating

City Natural Resources High Yield IT - New Rating

New Rating

HSBC American Index - New Rating

Suspended

Legal and General High Income Trust - Rating suspended

New Rating

Muzinich Short Duration High Yield and Enhanced Yield Funds

Rating downgraded

AXA Short Duration High Yield - Downgraded

Rating downgraded

Schroder US Mid Cap - Downgraded

Suspended

Royal London Japan Growth - Rating Suspended

New Rating

First State Indian Subcontinent - New Rating

Rating downgraded

BlackRock European Dynamic - Upgraded

Rating downgraded

BlackRock UK Dynamic - Downgraded

New Rating

Schroder Global Property Income Maximiser - New Rating

Rating downgraded

Artemis European Growth

Rating downgraded

Invesco Perpetual European Equity - Downgraded

Rating downgraded

GAM UK Diversified - Downgraded

Rating downgraded

Investec European - Downgraded

Rating downgraded

Rensburg UK Select Growth - Downgraded

Rating downgraded

Fidelity European - Downgraded

Rating downgraded

Ignis European Income - Downgraded

Rating downgraded

BlackRock UK Dynamic Downgraded

Rating downgraded

Newton Asian Income awarded 4 stars

Rating downgraded

Henderson Asian Dividend Income Downgraded to 3 stars

New Rating

Invesco Perpetual European Equity - Downgraded

Rating downgraded

iShares S&P 500 Downgraded to 3 Star Rating

Rating downgraded

Land Securities - Downgraded

New Rating

Templeton Frontier Markets - New Rating

Rating downgraded

Jupiter Financial Opportunities - Downgraded

Rating upgraded

Fidelity South East Asia - Upgraded

New Rating

IFSL Barclays Defined Returns Autocall Fund - New Rating

New Rating

M&G UK Inflation Linked Corporate Bond - New Rating

Rating downgraded

Newton Asian Income awarded 4 stars

The Newton Asian Income fund, which has strict income targets, offers a consistently high yield in excess of 5%. The performance of the fund has been strong - being in the top 10%, as of July, of its peer group over 1 and 3 years and 24th percentile over 5 years (against IMA Asia Pacific ex Japan. This is a good performance for a fund which primary focuses on income generation.

Relative to the peer group, the Newton Asian Income fund has a bias towards the more developed economies of Australia, Singapore and Taiwan, whilst it is significantly underweight in China and South Korea.

In this regard, the fund can be considered relatively conservative in its approach, but this has served the manager well in the past and we expect the good performance of this fund to continue. The manager, Jason Pidcock has a strong track record in Asian income, having run BP Pensions mandate in the region. Pidcock has a Bestinvest MRI of 93.8%.

View our Managers of the month section

The fund replaces the Henderson Asian Dividend Income fund as our preferred Asian equity income fund and we have added it to both the IFSL Bestinvest Income portfolioand the IFSL Bestinvest Income & Growth Portfolio.

The Henderson Asian Dividend Income fund remains in our Premier Selection with 3 stars. Confidence in the manager, Mike Kerley has been somewhat eroded and his current positioning does not sit comfortably with our view, although the fund will do well if we see a strong bounce in Chinese banks. We will continue to closely monitor the fund and will review at regular intervals.

View the Premier Selection