Four Fidelity UK retail funds have been awarded fresh ratings from OBSR.
The FIF Special Situations, FIF Global Special Situations and FIF Sterling Bond have been rated A by OSBR, while the FIF MoneyBuilder Income has been raised from an AA to AAA rating.
Richard Romer-Lee, research director at OSBR says: “Having met with Sanjeev Shah and Jorma Korhonen on a number of occasions both before and after the official handover from Anthony Bolton, our overall conviction in the managers and their approach has led us to award both Special Situations and Global Special Situations funds an A rating."
Ian Spreadbury, manager of Sterling Bond and MoneyBuilder Income has a great deal of experience and the new ratings recognise he has demonstrated effectiveness in his approach over the cycle, says Romer-Lee.
These are the first ratings for Global Special Situations and Sterling Bond both of which have been top quartile since their respective launches.
Peter Hicks, executive director of Fidelity International, says: “the new funds have delivered extremely strong performance since launch, while MoneyBuilder Income, long a favourite with advisers, has an enviable long-term track record under the management of Ian Spreadbury.”
Shah’s Special Situation fund targets valuation anomalies. His picks generally fall under: turnarounds or recovery situations, unrecognised growth, hidden jewels and corporate activity potential.
The Global Special Situations fund holds companies restructuring whose growth potential is unappreciated, value is below its asset value, or that are exposed to cyclical turns.
With a flexible mandate, the Sterling Bond fund can invest 20% in high yield bonds, 100% in corporate bonds and up to 90% in government issues, while the MoneyBuilder Income fund is mostly invested in bonds issued by companies.
FIL manages approximately £130.4bn of assets.IFAonline
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