S&P downgrades 11 funds

Amongst the upgrades was Standard Life UK Equity Growth, which was upgraded from AA to AAA, in recognition of its top-decile performance over three and five years. Meanwhile, Jupiter Undervalued Assets' rating fell from AAA to AA, due to its anticipated poor performance. In its review of the UK growth fund sector - comprising reports on 62 UK growth mainstream and 15 UK smaller companies funds - S&P noted that only six of the 38 sub-sectors recorded outperformance; oil equipment services, oil and gas, mining, industrial metals, electricity and chemicals. Susan Sworn, lead analyst at S...