Embark Horizon fund range loses Square Mile rating on move to BlackRock

Analysts at Square Mile Investment Consulting and Research argued that while BlackRock has “strong resources”, the new team must establish its own process and build a track record before a rating can be applied.

Meanwhile, the departure of Sharat Shroff as lead manager on the Matthews Asia Pacific Tiger fund has led to the suspension of the product’s AA rating until Square Mile’s analysts can meet with new lead manager In-Bok Song and incoming CIO Sean Taylor, who took on the role following the firm’s rebrand from Matthews Asia to Matthews.

They will seek to discuss changes to the team, including the addition of Peeyush Mittal and Jeremy Sutch as co-portfolio managers.

Troy Income & Growth suspends buybacks ahead of potential merger

Troy Income & Growth trust has also seen its rating suspended, following news of its intended merger with the STS Global Income & Growth trust.

Analysts will continue to monitor the process as shareholder and regulatory approval are sought, with general meetings set for March 2024.

The Mike Fox-led Royal London Sustainable Leaders fund has been awarded a Responsible AA rating due to its “long-term, disciplined and risk averse” investment process.

Analysts praised Fox’s “clear focus on investing in high quality companies that are both helping the transition to a more sustainable future and that he believes can generate strong financial returns”.

Jupiter Global Value Equity has achieved an A rating, with managers Ben Whitmore and Dermot Murphy described as “patient, contrarian” investors.

The analysts suggested the fund’s approach could appeal to investors seeking a “global equity fund with a strong valuation discipline”.

Artemis SmartGARP Global Emerging Markets has also been awarded an A rating, with analysts describing the fund as an “attractive strategy” for investors seeking exposure to the region.

Square Mile launches six passive model portfolios

“It is run by an experienced pair of portfolio managers applying a well-established investment process that focuses on identifying companies that they feel are attractively valued and have strong potential of delivering faster growth than the market over time,” the analysts wrote.

Pyrford Global Total Return has retained its A rating despite the split of the Columbia Threadneedle Investments subsidiary’s dual CEO/CIO role.

Paul Simons is set to become the firm’s next CEO, with Daniel McDonagh taking on the role as CIO.

Outgoing CEO/CIO Tony Cousins will take on the newly-created role of investment chair, only overseeing investment activities, with no responsibility for non-investment activities.