Bestinvest downgrades 13 funds on performance and liquidity concerns

In its latest update, the investment firm, which is part of the wider Tilney Bestinvest group, said it had downgraded six UK equity funds, five global equity vehicles and two US equity products.  The UK funds are Old Mutual UK Mid Cap, Jupiter UK Growth, Fidelity Special Situations, Franklin UK Equity Income, Artemis Capital and Standard Life UK Equity High Income. Both the Old Mutual fund, managed by Richard Watts and Fidelity's fund, managed by Alex Wright, were downgraded for liquidity reasons as both now have over £2bn in assets under management. Tom White, senior research anal...