Advisers question UK 'focus' fund results

In its latest Making the Grade report, financial planning firm Rowan published a research system that assesses three year cumulative performance, alongside an overall grade which also takes into account a fund's consistency and volatility. Excluding Richard Buxton's Schroder UK Alpha Plus, the 10 funds in the UK All Companies sector which achieved an 'A' grade all invest in more than the 40 stocks limit traditionally associated with a more focused approach. Tim Cockerill, head of research at Rowan, picked out Gartmore UK Focus (D+), Invesco Perpetual UK Focus (C-) and Credit Suisse Alph...