OBSR makes fund rating changes

Old Broad Street Research (OBSR) has announced a number of rating changes and removals from the service in its latest fund review.

Nick Gartside
Nick Gartside

The £27.6m River and Mercantile UK Equity Smaller Companies fund, managed by Richard Staveley, has been removed from the service after OBSR claimed that conviction in the manager’s ability to add value by stock selection had “waned”.

The rating service also highlighted “a slight modification” in the investment process that was “as yet unproven” and led them to be cautious.

“Within this competitive sector we believe there are more compelling opportunities and therefore no longer feel the fund merits inclusion in the service,” a spokesperson says.

The rating agency has removed the £20.4m CF Miton Global Growth fund, which previously held an A rating and is managed by Sam Liddle and Nick Greenwood, from the service.

The Philippe Brugere-Trelat-managed Franklin Templeton European fund has been awarded an AAA rating.

Mark Slater’s MFM Slater Growth fund has been added to the rating service with an A rating. It is described as an “attractive option for UK equity investors willing to accept the significantly higher risk that may come with a concentrated portfolio of predominantly small companies”.

The JP Morgan Strategic Bond fund, managed by Robert Michele and Nick Gartside, has been added to the service with an A rating.

Three Aviva Investors funds have been introduced to the service with A ratings.

The Aviva Investors US Equity Income, managed by River Road Asset Management; the Aviva Investors UK Equity Income, managed by Chris Murphy; and the Aviva Investors UK Equity fund, also managed by Murphy, have joined the service.