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- Standard Life UK Smaller Companies - Downgraded
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Newton Global Income - Downgraded
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Fundsmith Equity - New rating
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CC Japan Income & Growth Trust (CCJI) - New rating
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Legg Mason IF Japan Equity - New rating
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Old Mutual North American Equity - New rating
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AXA Framlington Japan - New rating
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T Rowe Price US Smaller Companies Equity - New rating
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City Natural Resources High Yield Trust - Rating suspended
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Vanguard FTSE Developed Europe ex-UK Equity Index - New rating
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Fidelity Index Emerging Markets - New rating
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Insight Strategic Bond - New rating
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Henderson Fixed Interest Monthly Income - New rating
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Fulcrum Diversified Core Absolute Return - New rating
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JPM Multi-Asset Macro - New rating
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F&C Responsible Global Equity - New rating
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Aberdeen Ethical World Equity - Downgraded
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Standard Life Investments Property Income Trust - New rating
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ETFS Physical Gold GBP - New Rating
Rating upgraded
BlackRock Gold & General - Upgraded
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JPM Emerging Markets Income - New rating
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Loomis Sayles US Equity Leaders - New Rating
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Old Mutual Global Equity - New rating
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Jo Hambro CM Global Opportunities - New rating
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Fidelity Global Enhanced Income - New rating
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Ardevora Global Long Only Equity - New rating
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British Empire IT - Downgraded
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F&C Real Estate Securities - New rating
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Morgan Stanley Diversified Alpha Plus - Downgraded
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Ardevora UK Income - New rating
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Old Mutual UK Equity Income - New rating
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Newton Global Emerging Markets W - New rating
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RobecoSAM Smart Materials Fund - New rating
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Blackrock World Mining Trust - Downgraded
Rating downgraded
Aberdeen Global Indian Equity - Downgraded
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Aberdeen Asian Income Fund - Downgraded
Rating downgraded
Aberdeen Global Asian Smaller Companies - Downgraded
Rating downgraded
Aberdeen Asian Smaller Companies IT - Downgraded
Rating downgraded
Edinburgh Dragon IT - Downgraded
Rating downgraded
Aberdeen New Dawn IT - Downgraded
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Aberdeen Asia Pacific & Japan Equity - Downgraded
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Aberdeen Asia Pacific Equity - Downgraded
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Aberdeen Global Asia Pacific Equity - Downgraded
New launch
P2P Global Investments C-share issue
Rating downgraded
Murray International - Downgraded
Rating downgraded
Aberdeen World Equity Income - Downgraded
Rating downgraded
Aberdeen World Equity - Downgraded
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Artemis Global Income - Rating upgraded
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Threadneedle Dynamic Real Return - New rating
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BlackRock UK Special Situations - Rating suspended
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Templeton Emerging Markets Trust (TEM) - Downgraded
Rating downgraded
iShares S&P SmallCap 600 UCITS ETF - New rating
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SSGA SPDR Barclays 1-5 year Gilt UCITS ETF - New rating
Rating downgraded
Standard Life UK Smaller Companies IT - Downgraded
Rating downgraded
Standard Life UK Smaller Companies - Downgraded
Rating downgraded
Schroder UK 250 Mid Cap - Downgraded
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Montanaro UK Smaller Companies - Downgraded
Rating downgraded
Artemis UK Smaller Companies - Downgraded
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Old Mutual UK Smaller Companies - Downgraded
Rating upgraded
Franklin UK Smaller Companies - Rating upgraded
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Newton Asian Income - Downgraded
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F&C UK Property fund - New rating
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Lazard Emerging Markets - Downgraded
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Fidelity Emerging Markets - New rating
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F&C European Small Cap ex UK Fund - New rating
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Templeton Emerging Markets Investment Trust - Downgraded
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Fidelity UK Smaller Companies - New rating
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AXA Framlington UK Smaller Companies - New rating
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Tritax Big Box - New rating
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Woodford Patient Capital Trust - New rating
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Artemis Global Income - New rating
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Empiric Student Property - New rating
Rating downgraded
TM Sanditon European fund - New rating
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UK Commercial Property Trust - Rating suspended
Rating downgraded
BlueCrest BlueTrend (BBTS) - Downgraded
Rating downgraded
Standard Life UK Smaller Companies - Downgraded
The Standard Life UK Smaller Companies Fund (unit trust) was previously rated five stars by Bestinvest and was then downgraded to a two-star hold in 2011 after it was soft closed to new investors to limit growth in assets under management. However assets under management for the fund remain high. We believe they are likely to continue to compromise the manager’s ability to implement his investment style efficiently and, in doing so, his ability to deliver outperformance on a par with the past. We have higher conviction in alternative mandates that we believe are less constrained in this respect and have downgraded our rating to a 1 star.
The UK Smaller Companies investment trust also managed by Nimmo has historically outperformed his unit trust, although this distinction has become less pronounced over the last three years. The trust pursues an identical investment strategy and has a reasonably high degree of overlap with his open ended fund, consequently we would also expect it to be subject to the same challenges going forward. The trust is currently trading marginally below its rolling one-year discount to NAV, consequently we have downgraded our rating to a two star.
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. Prevailing tax rates and reliefs are dependent on your individual circumstances and are subject to change.
Current or past yield figures provided should not be considered a reliable indicator of future performance.