STATISTICS PA QUALITY 250
The PA Quality 250
Blue-chip funds for investment advisers Data supplied by
The PA Quality 250 is a
carefully filtered selection
of premium funds from the
whole universe available
to UK-based investment
advisers.
These funds have undergone
a series of quantitative
and qualitative screens
designed with the help of
Morningstar and kept on a
bespoke database.
Universe
The universe is based
UK equity
on Morningstar’s ‘UK
registered for sale universe’
of around 3,400
funds – split roughly
evenly between UK-
domiciled funds and offshore
funds with FSA
recognition. Funds must
have a three-year track
record.
Investment categories
We have created 13 categories
– the most commonly
used by advisers for
asset allocation decisions –
and have consolidated all
the relevant Morningstar
Global Investment Fund
sectors into them.
Quantitative screen
Only funds with a four-
or five-star Morningstar
Rating appear.
This represents the top
32.5% of funds based on
three-year performance
and volatility within their
sectors.
Fund name Manager name Morningstar S&P fund FAR OBSR 3-year 3-year Domicile Curr Min init Fund
Rating ratings % chg volatility inv (£) size (£m)
IP High Income Inc Invesco Fund Managers HHHHH AAA AAA 12.24 13.89 UK £ 500 7,536.85
IP Income Inc Invesco Fund Managers HHHHH AAA AAA 11.66 13.83 UK £ 1,000 5,270.86
Std Life UK Smaller Cos Retail Acc Standard Life Investments HHHHH AA AAA 8.24 22.33 UK £ 500 327.81
Newton UK Opportunities Inc BNY Mellon Asset Mgt HHHHH AA 7.13 14.31 UK £ 1,000 270.82
L&G Growth Trust E Inc Legal & General UT Managers HHHHH A 5.07 18.78 UK £ 500 103.73
Newton Income BNY Mellon Asset Mgt HHHHH AA A 4.76 14.37 UK £ 1,000 980.43
Old Mutual UK Select Mid Cap Acc Old Mutual Fund Managers HHHHH AA 2.52 19.85 UK £ 1,000 681.6
M&G Recovery A Inc M&G Group HHHHH AAA AAA 0 18.22 UK £ 500 2,231.69
Old Mutual UK Select Small Cos Acc Old Mutual Fund Managers HHHHH AAA -1.1 20.6 UK £ 1,000 262.49
Artemis Income Inc Artemis Fund Managers HHHHH AAA -4.11 14.51 UK £ 1,000 2,217.15
JPM UK Dynamic Shares A Acc JPMorgan Asset Management HHHHH AA -5.24 18.56 UK £ 1,000 312.03
Fidelity Special Situations Fidelity (FIL Inv S’vcs (UK)) HHHHH A A -7.39 16.12 UK £ 1,000 2,306.5
CF Walker Crips UK Growth Inc Capita Financial Managers HHHHH A -8.06 15.52 UK £ 1,000 76.69
Fidelity UK Aggressive Fidelity (FIL Inv S’vcs (UK)) HHHHH A -8.72 16.45 UK £ 1,000 256.99
BlackRock UK Smaller Co A Inc BlackRock Fund Managers HHHHH AA AAA -9.2 20.41 UK £ 1,000 283.94
BlackRock UK Special Sits A Inc BlackRock Fund Managers HHHHH AA AA -9.66 18.39 UK £ 1,000 663.45
Newton Growth Inc BNY Mellon Asset Mgt HHHH AA 3.8 13.63 UK £ 1,000 60.86
SVM UK 100 Select Retail SVM Asset Management HHHH A 0.98 18.14 UK £ 1,000 3.38
Norwich UK Equity Income A Inc Norwich Union Collect Inv HHHH A -1.15 14.09 UK £ 1,000 572.16
Liontrust First Growth Liontrust Investment Funds HHHH AA -3.02 21.14 UK £ 2,500 352.54
L&G UK Alpha R Trust Acc Legal & General UT Managers HHHH A -3.51 20.45 UK £ 100,000 17.45
Aegon UK Equity A Acc Aegon Fund Management HHHH A A -3.92 17.74 UK £ 500 127.85
Fidelity MoneyBuilder Growth Fidelity (FIL Inv S’vcs (UK)) HHHH A -4.66 15.99 UK £ 500 401.18
SWIP UK Advantage A Inc Scot Widows Invest P’ship HHHH A -5.66 17.38 UK £ 1,000 42.16
L&G UK Active Opportunities E Inc Legal & General UT Managers HHHH A -5.79 17.21 UK £ 500 163.48
L&G Equity Tracker E Inc Legal & General UT Managers HHHH A -6.04 17.44 UK £ 500 369.49
Rensburg UK Equity Income Rensburg Fund Management HHHH A -7.08 14.52 UK £ 500 185.13
Std Life UK Equity High Inc Retail Inc Standard Life Investments HHHH AA -7.13 17.41 UK £ 500 708.23
Newton Higher Income Inc BNY Mellon Asset Mgt HHHH A A -7.15 13.82 UK £ 1,000 2,352.37
Rathbone Income & Growth Inc Rathbone UT Management HHHH AA A -7.7 15.47 UK £ 1,000 34.71
Artemis UK Special Situations Artemis Fund Managers HHHH AAA -7.98 15.76 UK £ 1,000 771.98
Std Life UK Equity Growth Retail Acc Standard Life Investments HHHH AAA A -8.04 18.26 UK £ 500 306.18
Cazenove UK Dynamic B Cazenove Investment Fd Mgt HHHH A -8.93 17.31 UK £ 1,000 80.04
IP Children’s Invesco Fund Managers HHHH AA -9.16 14.61 UK £ 50 103.96
Data Source: © 2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely.
Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Performances have been calculated on a bid-to-bid, £, gross income basis.
Volatility is expressed as standard deviation of 36 monthly total returns (bid-to-bid). Fund sizes are as reported by the management groups and the latest available to Morningstar. The Morningstar Rating is calculated based on a fund’s total returns, adjusted for
risk and sales charges, relative to other funds in its Morningstar Category. The Overall Morningstar Rating published here is based on a weighted average of a fund’s 3-, 5-, and ten-year ratings, depending on the length of its record.
50 PORTFOLIO ADVISER [www.portfolio-adviser.com] DEcEmbER 2008
Qualitative screen
Finally, funds must have
a qualitative rating to be
allowed in. That is to say
that an independent agency
needs to have met with
and evaluated the fund
manager and team. To
qualify for the PA Quality
250, a fund needs to have
a qualitative fund rating
from Standard & Poor’s,
Crosby Forsyth Research
Fund Analysis and Ratings
(FAR) or OBSR.
including ratings by
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