FundCalibre reveals latest funds to receive Elite Ratings


A special situations offering from a straight-talking Yorkshireman and a Chinese equity fund that is “not for the faint-hearted” feature in the latest round of funds to land a top rating from FundCalibre.

Seven equity funds have been awarded the research company’s Elite Rating, along with two bond funds and an absolute return fund, which is dominated by the UK and Europe.

Marlborough appears twice with the European Multi-Cap and UK Multi-Cap Growth funds both in the mix, alongside Henry Dixon’s Man GLG UK Income and Liontrust’s straight-talking Richard Penny appears with his Special Situations fund. 

Claudia Calich’s M&G Emerging Markets Bond fund and the Fidelity China Special Situations investment trust, which is described as “not for the faint-hearted”, represent the few products with a more international investment universe.

The T Rowe Price Global Focused Growth Equity fund also features.

The latest

1. BlackRock UK Absolute Alpha: This UK equity long/short fund aims to achieve a positive absolute return for investors regardless of market conditions. It is a very useful portfolio diversifier, with much lower volatility than the UK equity sector average.

2. Fidelity China Special Situations: This investment trust provides investors with direct exposure to the Chinese market and has a bias towards smaller and medium-sized companies, so it is not for the faint-hearted. The good news is that the manager, Dale Nicholls, has extensive investment experience in the Far East and is able to draw on the breadth and depth of Fidelity’s resources in the region.

3. L&G UK Special Situations Trust: Straight-talking Yorkshireman Richard Penny has a solid track record of identifying undervalued companies. He targets stocks with mispriced growth and recovery potential and is happy to hold them until they re-rate.

4. Liontrust Monthly Income Bond: This fund invests predominantly in corporate bonds. Since launch in 2010, it has invested in shorter dated bonds to lower the portfolio’s sensitivity to interest rate rises, but has the flexibility to invest in longer dated bonds as and when rates normalise.

5. M&G Emerging Markets Bond: Manager Claudia Calich uses her experience in this asset class to analyse the macro-economic environment and individual companies to pick the best mix of bonds for this portfolio. She has the flexibility to invest across the whole emerging market bond market in both hard and local currencies.

6. Man GLG UK Income: This equity income fund invests in UK companies of all sizes, as well as continental European companies that derive a substantial part of their revenues from the UK. Manager Henry Dixon can also invest up to 20% in corporate bonds, which sets it apart from the majority of its peers.

7. Marlborough European Multi-Cap: Manager David Walton can hold European businesses of all sizes in the fund but tends to focus on smaller companies, targeting the continent’s minnows. These businesses are often overlooked and have the potential to outperform.

8. Marlborough UK Multi-Cap Growth: This fund invests in small, medium and large UK companies that lead their sector and have the potential to grow – regardless of the prevailing economic environment. It allocates more to large companies than most other Marlborough funds, which reflects its objective to back growth opportunities across the whole market spectrum.

9. R&M UK Dynamic Equity: Manager Philip Rodrigs harnesses the power of River and Mercantile’s MoneyPenny screening system to select his favourite companies for this concentrated and flexible portfolio.

10. T. Rowe Price Global Focused Growth Equity: This fund invests in a range of global companies, across developed and emerging markets, which have the potential to achieve improving or above-average earnings growth.