Crown ratings – value funds suffer while 50 see top upgrade

FE fundinfo crowns BT IOOF Lakehouse morningstar Schroder Zurich Chiodo funds upgrade ratings quantitative ratings BT index balanced bt index growth chiodo diversified property development ioof multiseries 50 multiseries 90 Lakehouse Small Companies morningstar global shares schroder global corporate bond

10 March 2020
| By Laura Dew |
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There have been 50 funds upgraded to the top rating of five Crowns in the latest quantitative FE fundinfo Crown Ratings covering the past six months while funds with a value bias saw downgrades.

In total, there were 134 funds which received a five Crown rating which was comprised of 76 which retained a five Crown rating from the last rebalance in September, 50 which were upgraded and eight which received their first rating.

FE fundinfo Crown Ratings are a quantitative rating determined using FE fundinfo’s performance scorecard process which analyses a fund’s performance over the last three years. The score is made up of three components – alpha, relative volatility and consistently good performance.

The eight funds which received a five Crown rating for the first time, BT Index Balanced, BT Index Growth, Chiodo Diversified Property Development, IOOF MultiSeries 50, IOOF MultiSeries 90, Lakehouse Small Companies, Morningstar Global Shares and Schroder Global Corporate Bond, was an increase from five last September.

However, the results were broader across companies than last year with no single company reporting double-digit five Crowns.

The best company was IOOF which had nine funds listed as five Crowns, including two which received their first rating and two which were upgraded. This was followed by Zurich which retained all five of its five Crowns funds from last September.

Some 54 funds which received a five Crown rating in the last edition were downgraded this year, including five to a one Crown rating. Many of those downgraded had a value bias in their investment process which had underperformed its growth counterparts in the period covered by the rebalance.

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