Rating upgraded

JO Hambro CM UK Dynamic - Rating upgraded

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BlackRock UK Special Situations - Downgraded

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JPM US - Downgraded

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M&G American - Downgraded

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GAM Star GAMCO US Equity - Downgraded

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Findlay Park American - Rating suspended

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Henderson UK Property - Downgraded

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Starwood European Real Estate Finance (SWEF) - Downgraded

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TR Property IT (TRY) - Downgraded

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Premier Pan European Property Share - Downgraded

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UK Commercial property trust - New rating

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Aviva Investors Property - Downgraded

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Investec Enhanced Natural Resources - Downgraded

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Kames Property Income - New rating

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Ediston Property (EPIC) - Rating suspended

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Ediston Property - New rating

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John Laing Environmental Assets Group (JLEN)

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TwentyFour Select Monthly Income (LSE:SMIF)

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New Rating

UK Commercial property trust - New rating

Following the resignation of previous manager Robert Boag in February 2015, we suspended the three-star rating on the fund until we had more confidence in the skills of the new manager and how the handover process was being implemented. Incoming manager, Will Fulton, has 27 years’ experience in UK and continental European commercial real estate markets across a variety of different real estate funds, and has been running a £2.3 billion real estate portfolio for the Standard Life with profits funds for the last 4 years. We have met the new manager Will Fulton and have confidence in his abilities as lead manager.

UK Commercial Property Trust aims to provide shareholders with an attractive dividend yield and the potential for capital and income growth through investment in a diversified portfolio of UK commercial property. It is a Guernsey-registered company listed on the LSE offering core, high-quality exposure to UK commercial property. Preferred lot size is of £20 million to £50 million and c.5.0% income yield. The company exits assets where there is significant capital expenditure anticipated with limited return prospects, or low long-term return prospects.

The company uses bank loans at c.20% loan to value. Interest rates on these loans are lower than the net rental yield on the property assets, which enhances the dividend to shareholders. The portfolio has low void levels of just 3.3%. Asset management activity within the portfolio is focused on retaining and enhancing income, particularly in the retail portfolio. The prime nature of the portfolio is for long-term sustainable performance and focuses on growing income.

We have reinstated the three-star rating on UK Commercial Property Trust. It will appear in Our Top-rated Funds - our research team’s premier selection.

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 article is not a personal recommendation or advice to invest.