Square Mile has brought four new strategies into its academy and suspended the rating of two funds following its December review.
The Ninety One Sustainable Equity and RGI European funds had their ratings suspended this month while Invesco Bond Income Plus Limited, the Royal London UK Government Bond fund and the Evenlode Global Equity fund were awarded A ratings. The CCLA Better World Global Equity fund was also recognised with a positive prospect rating.
Ninety One’s rating was suspended following a proposition to merge the fund into its Global Sustainable Equity fund. Results of the proposition will be announced on 16 January.
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“If successful, investors will receive new units in the Ninety One Global Sustainable Equity fund on 28 February. Dealing in the UK Sustainable Equity fund will be suspended from 12 noon on 27 February until 9am on 3 March when investors will have received their new units,” Square Mile stated.
“The Square Mile analysts believe there to be a high chance that the merger will be approved and have therefore taken the decision to suspend the Square Mile rating pending the outcome of the vote. Should the merger gain approval, the fund will be removed from the Academy of Funds.”
The RGI European fund was suspended following the announcement that its fund manager James Sym would be departing the firm. Sym has been a partner at the company since 2020 and head of equities since 2022.
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“Although he is departing River Global, he will continue to manage the RGI European fund on a sub advisory basis. Therefore, the fund’s investment process and approach are expected to remain the same. The Square Mile analysts aim to meet with Mr. Sym when he is at his new group and will make a decision on the fund’s rating thereafter,” Square Mile stated.
While the Aegon Ethical Cautious Managed fund was under review by the Square Mile team, it retained its Responsible A Rating as Euan McNeil exited the firm. However, the fund will continue to be managed by Audrey Ryan, who has been a co-manager since January 2024, and Iain Buckle, who previously ran the fund with McNeil before Ryan, will rejoin the fund.
This story was written by our sister title, Portfolio Adviser
