Analysts at Square Mile Investment Consulting and Research have removed the Investec Emerging Markets Equity and Franklin UK Mid Cap funds from its Academy of Funds – its showcase of recommended and rated vehicles – following extensive meetings with 21 asset management groups over the course of January.
The 31 meetings led to the team removing its 'A' rating from Archie Hart's £181m Investec Emerging Markets Equity fund, which it said was because the manager has "struggled to meet his performance objective since the fund's launch in 2012". The team said: "While some funds may have certain style elements which can lead to underperformance at various points in the cycle, a key attraction of this fund was a process that considers a range of key factors designed to help deliver performance regardless of market backdrop. "Unfortunately, this has not been the case and Square Mile's convi...
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