Thu, 17/07/2014 - 12:15
The FE Crown Fund Ratings’ bi-annual rebalancing has seen nine funds awarded the top score of five FE Crowns in their first ever rating.
Aberdeen Emerging Markets Bond and BlackRock Continental European Income were among those ranked within the top 10 per cent of their respective asset classes. Funds must have a three-year track record to be eligible for a rating.
Oliver Clarke-Williams, research analyst at FE, says: “Aberdeen Emerging Markets Bond can attribute its five FE Crown Fund Rating to a high alpha score and consistently strong performance; the fund was first quartile in 2012, 2013 and year to date. BlackRock Continental European Income scored well on both the alpha and volatility components; it delivered top quartile returns whilst taking on less volatility than its peers.”
Invesco Perpetual Fund Managers remains the house with the most high quality funds; 12 of its funds scored five FE Crowns. First State Investments manages 11 funds with a five FE Crown Fund Rating, while Fidelity has 10 top scoring funds.
Clarke-Williams says: “First State in particular stands out as more than two thirds (69 per cent) of its funds achieved five FE Crowns. This suggests that First State as a group is adding significant value, be that through its network of regional offices, experienced analyst and support teams, and a general culture that is conducive to investing.”
FE uses its Crown Fund Ratings to judge funds according to alpha generation, volatility and the consistency with which they have beaten their benchmarks over the three years to 30 June 2014. The top 10 per cent of funds are awarded five FE Crowns with the following 15 per cent receiving four FE Crowns.
PFS Downing Active Management, a smaller companies fund, leapt from two FE Crowns to five. It has been the top performer in its sector over the last six months, continuing to grow even though small-caps as a whole have undergone a correction.
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