Hugh Sergeant's R&M Global Recovery loses Square Mile rating

ES R&M Global Recovery lost its A rating due to a run of lacklustre long-term returns. Over three and five years, the fund has ranked fourth quartile in the IA Global sector. Although it has moved up to top quartile in the past six months - as equity markets entered a growth value/recovery rotation - this was not enough to reassure Square Mile analysts. They said that despite manager Hugh Sergeant's "lengthy investment experience and impressive long-term track record running UK equity strategies", they do not feel this success has been repeated within a global equities mandate. Ser...