Which fund managers have bottom rated funds?

crowns ratings PM Capital bnp paribas Mason Stevens Orbis Allan Gray Alluvium Altrinsic atlas Bateau Asset Management Gleneagle JBS Investments LGM Investments Life Settlements MacKay Shields morphic asset management Optimal Fund Management Supervised Investments

7 September 2020
| By Chris Dastoor |
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There are 18 management groups that saw all of their funds only receive 1 Crown in the August rebalance of the FE fundinfo Crown ratings.

PM Capital Limited (five), Allan Gray (three), BNP Paribas Asset Management Australia Limited (two), Mason Stevens Asset Management (two) and Orbis Investment Management (two) all had multiple 1 Crown funds.

Both PM Capital and Allan Gray had funds which were previously rated as 4 Crowns but had now been downgraded to 1. These were the PM Capital Long Term Investment and Global Companies funds and the Allan Gray Australia Equity fund.

The PM Capital Australian Companies, Asian Companies and Allan Gray Australia Stable fund retained their 1 Crown rating from the previous edition while the PM Capital Enhanced Yield and Allan Gray Australia Balanced were both rated for the first time.

One of the funds dismissed the negative drop in the rebalance, noting its investment horizon aimed for five to seven years and that was the more relevant window to view performance through.

The 13 companies that had its single fund rated 1 Crown were from Alluvium Asset Management, Altrinsic Global Advisors, Atlas Funds Management, Bateau Asset Management, Gleneagle Asset Management, JBS Investments, LGM Investments, Life Settlements Funds, MacKay Shields, Morphic Asset Management, Optimal Fund Management, Sandon Capital and Supervised Investments Australia.

Colonial First State (CFS) had the most one Crowns with 18, but that only comprised a fifth (21.4%) of its total funds.

CFS declined to comment on performance but said in a statement: “CFS offers a very wide range of investment options for its members to choose from.

“Each option has its own characteristics and will be impacted by markets in unique ways which is why it’s important to consider the full spectrum CFS offers.”

OnePath and AMP Capital both had 17 funds which compromised 37.7% and 19.5% of its total range, respectively.

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