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Read the latest ‘Fund in focus’ articles, produced by our research team and which take an in-depth look at a fund, it’s investment performance, philosophy and outlook. You’ll also find reviews produced by fund managers and which we’ve reproduced with their kind permission.
Gaining contextPublished on 27 Mar 20 by Guest
Carl Stick, fund manager of Rathbone Income Fund, explains how, in the current difficult circumstances, he is trying first and foremost to mitigate losses and secure dividends for his investors. The manager also considers where future opportunities might lie. |
Fund in focus: Threadneedle UK Equity IncomePublished on 12 Mar 20 by Liz Rees
After trailing other developed stock markets since the EU referendum, the UK now offers an attractive yield. The political backdrop has stabilised and the government is poised to increase public spending, which should help the outlook for company earnings. With the Bank of England base interest rate back at record lows of 0.25%, equity income funds may offer an attractive alternative for those looking willing to take some risk. |
Fund in focus: Janus Henderson Strategic BondPublished on 28 Feb 20 by Liz Rees
In the current era of very low interest rates, you may question the rationale of continuing to hold bonds when many equity funds offer potentially higher yields. However, an actively managed bond fund can still produce decent income, without taking excessive risk. It can also help with diversification. |
Fund in focus: Schroder Asian IncomePublished on 13 Feb 20 by Liz Rees
Asia is often seen as a region of rapid-growth opportunities, whether in large economies such as China and India or frontier markets such as Indonesia and Vietnam. As such, it is easy to overlook the fact that Asia is also home to many well-established and financially stable companies with a history of paying dividends. An Asian Income fund could aid diversification and be complementary to a UK Equity Income fund because there are significant differences in the underlying industry exposures |
Invesco European Equity Fund (UK) Q4 2019 reviewPublished on 06 Feb 20 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco Income Fund (UK) Q4 2019 reviewPublished on 31 Jan 20 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco High Income Fund (UK) Q4 2019 reviewPublished on 31 Jan 20 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Alternative equity income options to Neil WoodfordPublished on 30 Jan 20 by Adrian Lowcock
After more than seven months since its suspension the LF Equity Income fund, formerly known as the LF Woodford Equity Income fund, will shortly start to return money to unit holders. The money will be returned to you in a series of payments. |
Fund in focus: Man GLG UK IncomePublished on 29 Jan 20 by Liz Rees
A resounding majority for the Conservative government gave Boris Johnson a clear mandate to ‘get Brexit done’. Although there are likely to be bumps on the way, the UK stock market initially rallied as a cloud of uncertainty, that had held back companies exposed to the British economy, was lifted. Any pick-up in the present sub-par rate of growth could provide a boost to funds that adopt a value style. |
Janus Henderson Global Equity Fund Q4 2019 reportPublished on 28 Jan 20 by Guest
This update reviews performance against the benchmark over the fourth quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Janus Henderson European Selected Opportunities Fund Q4 2019 reportPublished on 27 Jan 20 by Guest
This update reviews performance against the benchmark over the fourth quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Fund in focus: BNY Mellon Real ReturnPublished on 08 Jan 20 by Liz Rees
For cautious investors, prepared to take on some market risk whilst at the same time seeking to protect their capital, the Investment Association (IA) Targeted Absolute Return sector may be of interest. Funds in this sector are managed with the aim of delivering positive returns, in 3 years or less, in any market conditions although this is not guaranteed. This fund takes a multi-asset approach. |
Fund in focus: Fidelity Institutional Emerging MarketsPublished on 12 Dec 19 by Liz Rees
The International Monetary Fund forecasts that Gross Domestic Product (GDP) in emerging markets will increase by 4.6% in 2020, well above its 3.0% estimate for their developed counterparts. There are political and governance risks associated with some countries in the region, but positive drivers include a growing middle class and a shift from manufacturing to services and technology. |
Fund in focus: BlackRock Gold & GeneralPublished on 20 Nov 19 by Liz Rees
At times of heightened political and economic uncertainty, investors often turn to gold for its well-deserved reputation as a safe haven asset. Whilst the most direct way to obtain exposure is via gold coins or bullion bars this can be an expensive route for individuals. An alternative option, offering some correlation to moves in the gold price, is a fund that invests in gold mining companies. |
Fund in focus: Schroder Global RecoveryPublished on 06 Nov 19 by Liz Rees
Value investing has proved far less rewarding than a growth style over the past decade. As global economic trends favoured growth and technology companies, the valuation gap relative to cyclical and recovery situations has become wider than ever. There was a resurgence of interest in value in September and, if this should resume, this fund could be well placed to benefit. |
Invesco European Equity Fund (UK) Q3 2019 reviewPublished on 01 Nov 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco High Income Fund (UK) Q3 2019 reviewPublished on 31 Oct 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco Income Fund (UK) Q3 2019 reviewPublished on 31 Oct 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
How Woodford’s downfall can teach us all to be better investorsPublished on 25 Oct 19 by Adrian Lowcock
We look at what we can learn from the downfall of Neil Woodford. It might make us better investors and hopefully either avoid similar situations in the future or minimise the impact they have on our finances. |
Janus Henderson Global Equity Fund Q3 2019 reportPublished on 23 Oct 19 by Guest
This update reviews performance against the benchmark over the third quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Janus Henderson European Selected Opportunities Fund Q3 2019 reportPublished on 23 Oct 19 by Guest
This update reviews performance against the benchmark over the third quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Fund in focus: Franklin UK Smaller CompaniesPublished on 22 Oct 19 by Liz Rees
Smaller companies have under-performed larger ones since the EU referendum. This reflects the fact they are more domestically focused while the outlook for the UK economy has deteriorated. However, as we approach 31st October, a removal of the Brexit deadlock could bring renewed interest in this area of the market. |
LF Woodford Equity Income Fund to be wound-upPublished on 15 Oct 19 by Adrian Lowcock
Link Fund Solutions (LFS), the Authorised Corporate Director of the LF Woodford Equity Income fund has taken the decision to close the fund and to wind it up as soon as it is practicable. |
Fund in focus: First State Global Listed InfrastructurePublished on 10 Oct 19 by Liz Rees
Investors are increasingly looking to diversify their portfolios beyond the traditional blend of equities and bonds. This has led to the growing popularity of alternative investments. One of these asset classes, which is of particular interest for income seekers, is infrastructure. |
Fund in focus: Man GLG Japan CoreAlphaPublished on 25 Sep 19 by Liz Rees
Japan is the world’s 3rd largest economy yet, having experienced a long period of stagnation, it has fallen off the radar of many investors. We believe there is a lot to like about Japan including low valuations, exposure to innovative companies and advances in corporate governance. However, it can be a difficult country to get to grips with culturally so we prefer experienced managers with an understanding of local customs. |
Fund in focus: Fidelity Global DividendPublished on 12 Sep 19 by Liz Rees
Healthy dividends can form a reliable part of an investor’s total returns, especially at times of heightened economic uncertainty, Furthermore, a global income fund can provide exposure to countries with differing characteristics to the UK, where the bulk of dividends are concentrated in a few large sectors. This fund strives to unearth the best income opportunities from around the world. |
Fund in focus: ASI UK Ethical Equity fundPublished on 28 Aug 19 by Liz Rees
Public awareness of Environmental, Social and Governance (ESG) issues has increased considerably in recent years, as the potential risks to our planet become more apparent. As a result, more investors are becoming interested in funds which offer socially responsible or sustainability strategies. |
An update on LF Woodford Equity Income fund suspensionPublished on 27 Aug 19 by Liz Rees
On Friday 23rd August, Link Fund Solutions Limited -the Authorised Corporate Director of LF Woodford Equity Income fund- issued its monthly review and update. They confirmed that December 2019 remains a realistic time frame to complete the restructuring of the fund and it will remain suspended until then. |
Fund in focus: M&G Corporate BondPublished on 07 Aug 19 by Liz Rees
Some investors have turned away from bond funds after strong performance by the asset class has left yields at historically low levels. Nevertheless, bonds can still provide a useful source of diversification and reasonable yields can be achieved without taking on excessive risk. Our fund in focus this week is M&G Corporate Bond. |
Janus Henderson European Selected Opportunities Fund Q2 2019 reportPublished on 01 Aug 19 by Guest
This update reviews performance against the benchmark over the second quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Janus Henderson Global Equity Fund Q2 2019 reportPublished on 01 Aug 19 by Guest
This update reviews performance against the benchmark over the second quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Invesco European Equity Fund (UK) Q2 2019 reviewPublished on 30 Jul 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco Income Fund (UK) Q2 2019 reviewPublished on 30 Jul 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco High Income Fund (UK) Q2 2019 reviewPublished on 30 Jul 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
LF Woodford Equity Income fund suspension to be extendedPublished on 30 Jul 19 by Liz Rees
On Monday 29th July Link Fund Solutions Limited (the Authorised Corporate Director of the fund) issued an update, following its latest review, and has confirmed that the LF Woodford Equity Income fund is likely to be suspended until December. |
Fund in focus: Invesco AsianPublished on 23 Jul 19 by Liz Rees
Asia is a diverse region with countries at varying stages of development. Over the last 20 years, China's weighting in the MSCI AC Asia ex Japan Index has increased from under 1% to around 37% today. We often hear about the exciting growth prospects but Invesco Asian is a fund that puts valuation to the fore. |
Fund in focus: Artemis US SelectPublished on 10 Jul 19 by Liz Rees
The US stock market is the biggest in the world, accounting for more than half of global equities by value. However, UK investors are notorious for their low exposure the region, perhaps deterred by the high valuations and relatively low yields. One fund that digs deep to uncover interesting opportunities is Artemis US Select. |
Foxes and hedgehogsPublished on 02 Jul 19 by Guest
They strive each day to completely understand their discipline, so why does their labour only make expert forecasters more inaccurate? Rathbones Income Fund manager Carl Stick looks at why specialists can fail at the future and what they can do about it. |
LF Woodford Equity Income fund extends suspension periodPublished on 02 Jul 19 by Liz Rees
On Monday 1st July Link Fund Solutions Limited (the Authorised Corporate Director of the fund) announced that, following a formal review, the fund will remain suspended. |
Fund in focus: Fundsmith EquityPublished on 26 Jun 19 by Liz Rees
Fundsmith Equity aims to produce capital growth from a concentrated portfolio of companies, typically well-known names with a global reach and which are listed in developed markets |
A message from Neil WoodfordPublished on 13 Jun 19 by Guest
Neil Woodford explains his position on the Equity Income fund suspension. |
Fund in focus: Merian UK Mid CapPublished on 12 Jun 19 by Liz Rees
The Merian UK Mid Cap fund aims to grow capital from a concentrated portfolio of 40-60 companies, of which around 75% will be from the FTSE 250 (excluding Investment Trusts) index. |
LF Woodford Equity Income fund suspension of dealingPublished on 04 Jun 19 by Liz Rees
On Monday 3rd June 2019 Woodford Investment Management Limited announced that it would be suspending dealing in units in the LF Woodford Equity Income fund, with immediate effect and until further notice. |
Fund in focus: BlackRock European DynamicPublished on 22 May 19 by Liz Rees
Alister Hibbert has managed this fund since 2008 and this year he has been joined by co-manager Giles Rothbarth. The pair take a flexible approach and investigate opportunities across the whole market, moving between different investment styles as appropriate. |
Invesco European Equity Fund (UK) Q1 2019 review – Consumer-focused factsheetPublished on 01 May 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Fund in focus: Woodford Equity IncomePublished on 01 May 19 by Liz Rees
Neil Woodford is well known for his contrarian investment style, focusing on companies which are out of favour and trading on low valuations. |
Invesco Income Fund (UK) Q1 2019 review – Consumer-focused factsheetPublished on 29 Apr 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Invesco High Income Fund (UK) Q1 2019 review – Consumer-focused factsheetPublished on 27 Apr 19 by Guest
This article outlines the economic background and explains how this has affected the performance of the Fund. Examples of the main contributors and detractors to returns are highlighted. Finally, the strategy is recapped and the outlook considered. |
Janus Henderson Global Equity Fund Q1 2019 reportPublished on 24 Apr 19 by Guest
This update reviews performance against the benchmark over first quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
Janus Henderson European Selected Opportunities Fund Q1 2019 reportPublished on 24 Apr 19 by Guest
This update reviews performance against the benchmark over first quarter of 2019, focusing on the main contributors to performance, any changes that have been made to the portfolio and an assessment of the outlook. |
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