Fund and industry updates

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.

Fund in focus: ASI Global Smaller Companies

Published on 15 Oct 20 by Liz Rees

Smaller companies funds offer the opportunity to participate in the earlier stages of a company’s development. It can be easier to compound growth from a lower base so successful businesses may deliver strong returns for investors.

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Fund in focus: Schroder European

Published on 24 Sep 20 by Liz Rees

Having been out of favour for some time, there are tentative signs of renewed interest in European stock markets. This follows the launch of a major initiative to boost the Eurozone economy in the form of a European Union Recovery fund. 
This week’s fund in Focus is Schroder European  which has a flexible approach to uncovering attractive opportunities in this large and diverse universe.  

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Fund in focus: JPM US Equity Income

Published on 26 Aug 20 by Liz Rees

To many people, the US stock market is best known for its technology leaders but there are also many well-established businesses offering healthy dividends.
A fund with a successful track record of delivering steady income from US companies is this week’s fund in focus, JPM US Equity Income.

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Invesco European Equity Fund (UK)

Published on 06 Aug 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.

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Invesco UK Equity Income Fund (UK) Q2 2020 review

Published on 06 Aug 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.

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Invesco UK Equity High Income Fund (UK) Q2 2020 review

Published on 06 Aug 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.

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Fund in focus: MI Somerset Global Emerging Markets

Published on 30 Jul 20 by Liz Rees

According to the IMF’s latest forecasts, emerging market economies are expected to perform better than developed economies, including the US and Europe, in both 2020 and 2021. June’s Caixin Composite PMI survey suggested that China, the world’s second largest economy, is leading the world out of recession and businesses were optimistic about the future. If the recovery gains momentum our fund in focus this week, MI Somerset Global Emerging Markets could be well placed to participate.

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Janus Henderson Global Equity Fund Q2 2020 report

Published on 24 Jul 20 by Guest

This update reviews performance against the benchmark over the second quarter of 2020, 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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Janus Henderson European Selected Opportunities Fund Q2 2020 report

Published on 24 Jul 20 by Guest

This update reviews performance against the benchmark over the second quarter of 2020, 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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Fund in focus: M&G Global Macro Bond

Published on 16 Jul 20 by Liz Rees

Bonds can help diversify a portfolio. They have, in the past, demonstrated a low correlation with equities and their fixed rate of interest may provide a more stable income stream than dividends from shares. One fund with a very flexible remit across the bond universe, enabling it to react quickly to disruptive events, is this week’s fund in focus M&G Global Macro Bond.

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Fund in focus: Royal London Sustainable Leaders Trust

Published on 02 Jul 20 by Liz Rees

Sustainability is fast becoming one of the most prominent themes in the investment world today. Awareness of limited resources to serve growing populations, as well as the environmental damage caused, has increased. Meanwhile, investors are recognising that companies addressing such issues may also deliver attractive returns. One fund with a long and successful history of sustainable investing is this week’s fund in focus, Royal London Sustainable Leaders Trust.  

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Fund in focus: Baillie Gifford Japanese Income Growth

Published on 18 Jun 20 by Liz Rees

As many companies around the world cut or suspend dividends, one country where they have held up better than most is Japan. Often criticised for low pay-out rates and hoarding of cash on their balance sheets, Japanese companies could stand out in an economic downturn. Baillie Gifford Japanese Income Growth fund seeks companies which have potential to grow both dividends and capital and is our fund in focus this week.

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A management fee reduction for selected Stewart Investor funds

Published on 16 Jun 20 by Liz Rees

Stewart investors have announced some fee reductions across several funds in their range. Further details can be viewed here. 

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Fund in focus: LF Lindsell Train UK Equity

Published on 04 Jun 20 by Liz Rees

During a deep economic downturn it is crucial to back companies that will be long-term winners and, just as important, to avoid those which may not even be around in the future. A fund which capitalises on structural growth trends and evolving themes in society may be one worth considering.

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Fund in focus: Invesco Corporate Bond

Published on 14 May 20 by Liz Rees

When the outlook for company profitability is uncertain it can be hard to find a dependable source of income from your investments. Companies are cutting dividends, while government bonds offer negligible interest rates and high yield bonds face rising defaults. One area that may be worth considering is investment grade corporate bonds. Our fund in focus this week is Invesco Corporate Bond, which has a Morningstar gold rating.

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Invesco Income Fund (UK) Q1 2020 review

Published on 13 May 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.

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Invesco High Income Fund (UK) Q1 2020 review

Published on 13 May 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.

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Invesco European Equity Fund (UK) Q1 2020 review

Published on 13 May 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.

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A management fee reduction for selected L&G funds

Published on 30 Apr 20 by Liz Rees

L&G have announced some fee reductions across several funds in their range. Further details can be viewed here. 

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Janus Henderson European Selected Opportunities Fund Q1 2020 report

Published on 29 Apr 20 by Guest

This update reviews performance against the benchmark over the first quarter of 2020, 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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Janus Henderson Global Equity Fund Q1 2020 report

Published on 29 Apr 20 by Guest

This update reviews performance against the benchmark over the first quarter of 2020, 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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Fund in focus: Artemis Global Select

Published on 23 Apr 20 by Liz Rees

A global fund is not restricted by geography and can search widely for businesses best placed to weather the current downturn in the global economy, as well as benefit from the eventual recovery. Sectors with a sustainable earnings outlook, such as healthcare and technology, may prove more resilient than cyclical industries to the challenges faced today. A fund that targets such opportunities, whilst paying close attention to valuation, is our fund in focus Artemis Global Select.

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Fund in focus: Trojan

Published on 01 Apr 20 by Liz Rees

Big falls in markets are a reminder that there is more to investing than just trying to grow your capital. It is also about protecting your money from falls in markets; such an approach to investing helps to stay invested in in uncertain times. Trojan adopts a conservative approach. The manager tries to protect investor’s capital when stock markets fall, although it may still lose money, whilst still participating in any upside.

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Gaining context

Published 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.

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Fund in focus: Threadneedle UK Equity Income

Published 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.

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Fund in focus: Janus Henderson Strategic Bond

Published 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.

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Fund in focus: Schroder Asian Income

Published 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

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Invesco European Equity Fund (UK) Q4 2019 review

Published 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.

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Invesco Income Fund (UK) Q4 2019 review

Published 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.

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Invesco High Income Fund (UK) Q4 2019 review

Published 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.

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Alternative equity income options to Neil Woodford

Published 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.

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Fund in focus: Man GLG UK Income

Published 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.

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Janus Henderson Global Equity Fund Q4 2019 report

Published 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.

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Janus Henderson European Selected Opportunities Fund Q4 2019 report

Published 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.

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Fund in focus: BNY Mellon Real Return

Published 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.

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Fund in focus: Fidelity Institutional Emerging Markets

Published 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.

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Fund in focus: BlackRock Gold & General

Published 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.

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Fund in focus: Schroder Global Recovery

Published 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. 

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Invesco European Equity Fund (UK) Q3 2019 review

Published 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.

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Invesco High Income Fund (UK) Q3 2019 review

Published 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.

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Invesco Income Fund (UK) Q3 2019 review

Published 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.

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