The PA Quality Funds
Blue-chip funds for investment advisers
The PA Quality Funds are
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 income
on Morningstar’s ‘UK
registered for sale universe’
of around 3,400
funds – split roughly
evenly between UKdomiciled
funds and offshore
funds with FSA
recognition. Funds must
have a three-year track
record.
Investment categories
We have created 14 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.
STATISTICS PA QUALITY FUNDS
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 Funds, a fund
needs to have a qualitative
fund rating from Standard
& Poor’s, OBSR or
Morningstar themselves.
Data supplied by
including ratings by
Data Source: © 2009 Morningstar, Inc. All Rights Reserved. The information contained on the following pages: (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.
Fund name Manager name Morningstar S&P fund OBSR M’star 3-year 3-year Domicile Curr Min init Fund
Rating ratings Qual % chg volatility inv (£) size (£m)
Schroder Income Maximiser A Acc Schroder Unit Trusts (UK) ★★★★★ A 7.23 20.37 UK £ 1,000 528.35
Schroder Income Acc Schroder Unit Trusts (UK) ★★★★★ Superior 6.85 22.07 UK £ 1,000 1,461.89
Aviva Investors UK Equity Inc SC1 Aviva Invest UK Fnd Srvcs ★★★★★ A -0.26 17.49 UK £ 1,000 586.27
BlackRock UK Income A Inc BlackRock Fund Managers ★★★★ AA 1.18 18.24 UK £ 500 355.55
Threadneedle UK Eq Inc Ret Net £ Threadneedle Invest Srvcs ★★★★ AA A -1.50 16.74 UK £ 2,000 616.87
JOHCM UK Equity income £ Inc Jo Hambro Capital Mgt ★★★★ AA AA Superior -1.52 21.18 UK £ 1,000 275.5
Threadneedle UK Eq Alpha Inc RN £ Threadneedle Invest Services ★★★★ AA A -3.74 16.62 UK £ 2,000 202.32
Artemis Income Inc Artemis Fund Managers ★★★★ AAA Superior -4.33 16.78 UK £ 1,000 2,782.24
Newton Higher Income £ BNY Mellon Asset Mgt ★★★★ A A -9.03 15.76 UK £ 1,000 2,708.12
Standard Life UK Eq High Inc R Inc Standard Life Investments ★★★★ AAA -9.40 18.25 UK £ 500 839.83
Rathbone Income Inc Rathbone UT Mgt ★★★★ A Superior -19.69 20.04 UK £ 1,000 489.67
UK equity income and growth
Fund name Manager name Morningstar S&P fund OBSR M’star 3-year 3-year Domicile Curr Min init Fund
Rating ratings Qual % chg volatility inv (£) size (£m)
IP Income Inc Invesco Fund Managers ★★★★★ AAA AAA -4.38 15.54 UK £ 500 6,806.11
IP High Income Inc Invesco Fund Managers ★★★★★ AAA AAA -5.20 15.43 UK £ 500 8,972.01
Rathbone Blue Chip Inc & Growth Rathbone UT Mgt ★★★★ A -10.95 17.32 UK £ 1,000 52.33
UK equity
Fund name Manager name Morningstar S&P fund OBSR M’star 3-year 3-year Domicile Curr Min init Fund
Rating ratings Qual % chg volatility inv (£) size (£m)
GLG UK Select Equity M GLG Partners Asset Mgt ★★★★★ A 49.99 26.37 Ireland € 4,502 N/S
L&G UK Alpha R Legal&Gen Unit Trust Mgrs ★★★★★ AA 42.16 23.55 UK £ 500 77.11
M&G Recovery A Inc M&G Group ★★★★★ AAA AAA Elite 14.91 20.27 UK £ 500 4,488.6
Rensburg UK Mid Cap Growth Rensburg Fund Mgt ★★★★★ Elite 10.36 22.48 UK £ 500 158.22
Newton UK Opportunities £ Inc BNY Mellon Asset Mgt ★★★★★ AA 6.05 15.18 UK £ 1,000 416.92
Newton Income £ BNY Mellon Asset Mgt ★★★★★ AA A Superior 6.01 15.44 UK £ 1,000 1,102.99
JOHCM UK Opport Retail £ Acc Jo Hambro Capital Mgt ★★★★★ AA AA Superior 5.56 15.55 UK £ 1,000 445.59
Investec UK Smlr Coms A Acc Net Investec Fund Mgrs (UK) ★★★★★ Standard 5.47 24.51 UK £ 1,000 124.85
Investec UK Special Sits A Inc Net Investec Fund Mgrs (UK) ★★★★★ AA Elite 4.69 20.02 UK £ 1,000 342.98
AEGON UK Smlr Coms A AEGON Fund Management ★★★★★ A 3.59 20.48 UK £ 500 13.12
L&G Growth E Inc Legal&Gen Unit Trust Mgrs ★★★★★ AA A 2.46 20.39 UK £ 500 188.4
Fidelity MoneyBuilder Growth Fidelity (FIL Inv SVCS (UK) ) ★★★★★ AA Superior -0.54 18.74 UK £ 500 404.85
Old Mutual UK Select Sml Co Acc Old Mutual Fund Managers ★★★★★ AAA AAA Superior -1.61 22.26 UK £ 1,000 377.44
Old Mutual UK Select Mid Cap Acc Old Mutual Fund Managers ★★★★★ AA Standard -2.44 22 UK £ 1,000 809.62
JANUARY 2010 [www.portfolio-adviser.com] PORTFOLIO ADVISER
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