Active Funds

There are numerous funds out there that follow a similar strategy of looking for strong companies that have potential to grow their earnings at a higher rate than the market is expecting. But there are three things which we believe sets the Fidelity Asia Fund apart.

First, Chanpongsang’s experience – he has a long and successful track record in fund management. Second, Fidelity has one of the largest teams of analysts in Asia which is critical in terms of its research capability. And finally, the team and manager have followed the same robust investment process for years. These three factors together have resulted in a formidable performance track record for investors.

Fidelity International was established in 1969 as the international arm of Fidelity Investments, which was founded in Boston in 1946. Fidelity is among the largest asset management firm globally. Teera Chanpongsang is has a long experience in investing in Asian equities and is supported by a team of 65 analysts based predominantly in Hong Kong, but also in Seoul, Delhi, Mumbai and Singapore.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

We believe the local presence in Asia gives the team an edge in terms of research and insight. The team at Franklin is very experienced in managing Indian equities, and they adhere to a strict and repeatable investment process when it comes to managing the Franklin India Fund. This investment process involves looking for high quality companies where there is a high visibility of future profitability, which can potentially offer stability during volatile market conditions. Together, we feel it offers an interesting way to invest in Indian companies.

Franklin Templeton Investments is one of the world’s largest fund management companies, with a very diverse offering of funds. Their India office was set up in 1996, and since then the business has grown at a steady pace. The lead portfolio manager for the Franklin India Fund is Sukumar Rajah, who is supported by a deep and well-resourced team of research analysts. We feel the team is very well resourced with a significant local presence and extensive experience in managing assets in India.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

It’s important to remember that emerging market investments can be particularly volatile and may be less regulated than other markets and so should therefore typically only form a small part of a diversified portfolio of investments. With any investment, there’s the risk that you could get back less than you put in.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Like all investment funds on the Barclays Funds List, the Janus Henderson Asian Dividend Income Fund has the essential combination of a robust and repeatable investment process that is adhered to by two strong fund managers and the team around them. The team sticks to a tried and tested investment process which includes more than 1,000 company meetings every year as they try to identify the companies most likely to produce strong cash flows and good dividend yields.

Janus Henderson was formed in 2017 from the merger of Janus Capital group and Henderson Global Investors. The new combined entity is headquartered in London with more than 2,000 employees. This fund is co-managed by Michael Kerley and Sat Dhura who are both very experienced in running Asia income. Henderson has a large team of investment professionals focused on the Pan-Asian Equity region who are based in London, Boston and Singapore.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

The team is well resourced and experienced which is really important when managing a fund that invests across such a diverse universe as Asia. The vast number of meetings the team hold with company management is testament to the effort and due diligence that goes into running this fund. The fact they also focus on the downside has helped the fund in the past, by providing protection in difficult markets as it helps minimise falls.

Stewart Investors is recognised as a proven and highly successful specialist manager in Emerging Markets and Asian Equities, with teams based in London, Edinburgh, Singapore and Sydney. The group is part of First State Investments, which itself is part of Mitsubishi UFJ Trust and Banking Corporation (MUTB). MUTB is one of Japan's leading asset managers, and acquired First State in 2019 as part of its wider ambition to grow globally by acquiring minority stakes in overseas asset managers.

The fund is managed by David Gait, who is very experienced with a long track record in managing Asian equities, having joined First State Investments back in 1997. The fund is co-managed by Sashi Reddy who joined the team in 2007 and is also the lead manager of the Worldwide Leaders Sustainable Strategy and the Indian Subcontinent Sustainability Strategy.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Managers of Emerging Markets funds can invest across 24 countries, with around 3,000 individual companies to choose from. Countries such as China and India, and companies such as Samsung and Alibaba, dominate the market, but beneath these lie a multitude of potential investment opportunities, each of which requires a great deal of analysis and research to understand. Identifying the best investment opportunities is therefore no easy task.

We believe the team at Ninety One is one of a small number in the marketplace that has the breadth, depth, experience and expertise to navigate this space. Coupled with this, Ninety One has stuck to a tried and tested investment process by which they construct their portfolios and manage the fund. The long term performance track record is testament to this.

Ninety One Fund Managers, previously called Investec Asset Management, was founded as a small start-up in South Africa in 1991 and has, over the last two decades, evolved into a global investment manager.

The Emerging Markets Equity Team is led by Archie Hart and Varun Laijawalla, the lead fund manager of this fund, and draws upon a team of super-sector global analysts. Each analyst is allocated a sector (e.g. Financials, Industrials or Telecoms) and the whole team is very experienced. Very few people have left the team over the years, which to us signifies an operation that is working well, and where staff enjoy their roles and environment.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

While we’ve seen many similar new funds launched over the last few years, as new teams enter this space, we place great emphasis on the well-resourced and experienced investment team dedicated entirely to idea generation for this fund.

They achieve through a portfolio of ‘best ideas’ that brings together a wide variety of different companies, from those that are growing their earnings at a rate that exceeds the market average, to companies that are going through some kind of restructure which could offer great recover potential in their share price.

BlackRock is among the largest and most diversified independent asset managers in the world. It is a market leader in both active funds, such as this, and passive funds, including ETFs and Trackers. The Fund is co-managed by Alastair Bishop and Charlie Lifford, both of whom have extensive experience in this field. Alastair joined BlackRock in 2010, and was previously a senior research analyst covering clean energy. Charlie covers new energy and sustainability at BlackRock, and in a previous role was responsible for building and maintaining a Clean Energy investment portfolio.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

There are an increasing number of Impact funds but what makes the Janus Henderson Global Sustainable Equity Fund stand out is the combination of a unique and robust philosophy determining which companies can and can’t make it into the portfolio, together with a long track record in managing such an approach.

One of the things we like about this fund, is how the investment approach isn’t just about avoiding companies perceived to have a negative effect on people, the environment and animals, but that the fund managers also look to invest in companies that proactively have a positive impact towards the development of a sustainable global economy. And he’s demonstrated the ability to deliver strong performance returns for investors, while adhering to this approach.

Janus Henderson was formed in 2017 from the merger of Janus Capital group and Henderson Global Investors. Hamish Chamberlayne and Aaron Scully are the lead fund manager for the Janus Henderson Global Sustainable Equity Fund. They are also supported by the Global Equity Team, covering different geographical regions – effectively helping the team choose the best ideas possible.

The team is also supported by Henderson’s Governance and Responsible Investment (GRI) team which is responsible for managing, implementing and integrating responsible investment policies and processes across the wider Janus Henderson Group. They will work on identifying companies with high levels of environmental, social and governance risk.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

There have been lots of new impact funds launched in recent years, but the Jupiter Ecology fund has been around since 1988 and it has always followed the same investment approach. Manager, Jon Wallace, has over 10 years' investment experience at Jupiter and previously worked at Forum for the Future, a sustainability advisor to corporate and public organisations. He is backed by a team that is expert in environmental solutions, which again sets this fund out against much of the competition.

The fund has produced positive returns over 13% per year in 5 of the previous 7 years, but is quite high risk in its approach as it tends to have a high exposure to industrial companies and to smaller sized companies. It can therefore be more volatile than the UK stock market as a whole i.e. the fund’s share price is likely to experience greater rises and falls in value than many other UK funds. Over the long-term we believe it continues to offer good growth prospects but you need to be prepared for some ups and downs along the way.

Jupiter is a UK based company, founded in 1985 and has grown to become a well-respected and successful fund management business. Their philosophy revolves around a belief that fund managers should be given complete freedom to run their funds without constraints, in order to deliver performance. As such, Jupiter has a strong track record in attracting talented individuals to build on this success. The Environmental and Sustainable Investment team brings together a diverse group of individuals who are each experts in the field of environmental innovations.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

This is a dynamic approach to income investing in European shares managed by one of the most experienced and talented European teams. The flexibility of the strategy means that the managers go beyond the obvious income sectors and are very reactive when trading around positions. The long term track record has been strong and this fund has fared well during periods of volatility.

BlackRock is among the largest and most diversified independent asset managers in the world. It is a market leader in both active funds, such as this, and passive funds, including ETFs and Trackers. The breadth and experience of the European team at BlackRock is a key advantage, to which we give great significance. Not only has Giles Rothbarth been involved with the fund since 2010, but he can leverage from BlackRock’s other European fund managers, who also have strong track records.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

This is a dynamic fund is managed from one of the most experienced and talented European equity teams. Giles is also supported by a very strong team.  We believe this is really important as their experience and rigorous research process helps drive successful stock selection and ultimately performance returns.

BlackRock is among the largest and most diversified independent asset managers in the world. It is a market leader in both active funds, such as this, and passive funds, including ETFs and Trackers. The breadth and experience of the European team at BlackRock is a key advantage, to which we give great significance. Not only has Giles Rothbarth been involved with the fund since 2010, but he can leverage from BlackRock’s other European fund managers, who have also have strong track records.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Since the financial crisis in 2008 the number of funds which have this focus on valuations (known as a ‘value’ approach to investing) in Europe has declined significantly, mainly because a lot of these companies have remained ‘out of favour’ for many years, which means this approach to investing has underperformed. The Invesco European Equity Fund, has been among the very few to keep its valuation approach unchanged despite these types of headwinds. The long term stability of the team, together with a strong investment culture, are among the key strengths of the strategy.

Invesco is one of the world’s leading independent global investment firms, solely focused on investment management. Senior management believe in long term performance rather than focusing on short term performance. The lead portfolio manager announced his retirement in 2020, having spent 19 years running the fund.

We were initially concerned that the stability of the team may be affected by this change, however the replacement portfolio manager, John Surplice, has been managing European equity funds at Invesco for over 20 years, and we feel confident that the depth of skill and knowledge within the long-serving team, should serve the fund well to continue to deliver in the future. Invesco for over 20 years and is supported by James Rutland and we feel confident that the depth of skill and knowledge within the long-serving team, should serve the fund well to continue to deliver in the future.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

There are a lot of strategic bond funds to choose from, and they all do different things. What we like about the Jupiter Strategic Bond Fund is the manager has no constraints, which means he has full freedom to invest in any part of the bond market and seek out the most attractive investment opportunities.

This flexibility also enables the manager to seek shelter in more defensive areas of the market, when the outlook for bonds is more challenging. And behind this process is an experienced team which helps keep the level of risk in check and aims to ensure returns are consistent.

Jupiter is a UK based company, founded in 1985 and has grown to become a well-respected and successful fund management business. Jupiter has a strong track record in attracting talented individuals and Ariel Bezalel, fund manager of the Jupiter Strategic Bond Fund, is one such example. Ariel joined Jupiter straight from university in 1997 and has built a strong team around him to manage this fund. He is supported by Harry Richards who joined in 2011 and became co-PM in 2019.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

We believe that PIMCO’s scale and reputation within fixed income gives significant advantages through their ability to attract talent internally, as well as to access leading policy makers (i.e. have access to central banks), corporate executives (i.e. senior company management) and corporate issuers (i.e. the investment banks and businesses involved in new bond issuance). This is a formidable advantage that PIMCO has in what is a crowded market.

We also like the fact that the fund has a team based approach in building the portfolio, which avoids the dependence on any key individuals. Despite that, we would say that the lead fund manager, Mark Kiesel is a great strength for the fund, as he brings great energy and leadership to the team.

PIMCO (Pacific Investment Management Company) was founded in 1971 and has grown to become the world’s largest bond manager, with a presence in every major global bond market. The Global Investment Grade Credit Fund is managed by Mark Kiesel, who has over 25 years of investment experience. As Chief Investment Officer of Global Credit, Kiesel has full oversight of PIMCO’s investment grade, high yield, bank loan, municipal and insurance business as well as credit research.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Janus Henderson has a very strong and established team managing global income since 2006. The fund managers, Andrew Jones and Ben Lofthouse, are supported by one of the largest teams of analysts in the global equity income sector and they can utilise the research and insight from the other fund managers and analysts across the firm. This helps them identify the best investment opportunities across multiple geographical regions. We believe these resources and experience of the team are the main reasons why this fund has performed strongly when compared to other global equity income funds.

Janus Henderson was formed in 2017 from the merger of Janus Capital group and Henderson Global Investors. The Janus Henderson Global Equity Income Fund is managed by Andrew Jones and Ben Lofthouse, who are supported by the wider Global Equity Income team. The team of nine investment professionals manages approximately £10bn.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

This dual approach to selecting companies to invest in gives us an ‘all weather’ portfolio, which could have the potential to deliver independently of the economic environment. As we know, long term returns from the stock market are series of lots of ups and down, not just one long straight line upwards, so this is a useful fund that has historically outperformed in the long term by taking advantage of all those down periods.

Findlay Park is very different to the large global asset management companies that offer everything to everyone. Founded in 1997, and based in London, Findlay Park Partners manages just one Fund. It’s a very simple business model: with one investment team, based in one location, managing one strategy. The belief is that ‘Keeping It Simple’ maximises the team’s focus.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

In our eyes, this is a reliable equity income product managed by an experienced portfolio management team which is able to take advantage of JP Morgan’s vast resources. Medium to long term performance has been strong, though we are aware that it has underperformed recently when the likes of technology stocks (which typically don’t pay dividends, and therefore aren’t widely held within this fund) have performed well. However, if you’re looking for a US fund to add to your investment portfolio, we still believe this should deliver good returns over the longer term.

The fund is managed by JP Morgan Asset Management, headquartered in New York, with additional investment management offices in London, Frankfurt, Columbus (Ohio), Tokyo, Hong Kong and Singapore. The fund benefits from a large and experienced team, which covers all industries and sectors. The diversity of the team facilitates a forum in which ideas are challenged and debated. Fund Manager Clare Hart is able to take advantage of the large team of analysts at JP Morgan, to search for investment ideas.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

What appeals to us is that the team has been investing along this style/with this approach since 2006. This means they have been ‘tested’ through the extremely tough years of 2008/09 and through the years when markets have delivered double-digit returns, such as 2013/17/19. The team itself has been very stable, highlighted by the fact that nobody has left the team for over 10 years. This strong and stable team structure, combined with a very simple yet successful, approach to investing gives us an attractive investment opportunity.

Loomis Sayles is an asset management company based in Boston USA, and is a wholly-owned subsidiary of French banking group Natixis. This fund has been managed by the same team, headed by Aziz Hamzaogullari, along the same investment process since 2006. With over 20 years of investment experience, Aziz has built a strong team of analysts at Loomis Sayles and has trained each of them up for the sole purpose of serving this fund.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

The focus on future growth and ‘next generation winners’ has been at the heart of this fund for many years and is responsible for its success. The team has successfully been able to navigate the fund through over 10 years of accelerating change within the technology market, as new technologies and factors disrupt virtually every industry and market across the globe. The dedicated focus at Polar Capital has resulted in the creation of a very experienced and management team, backed up by a strong and stable team of research analysts.

Polar Capital is a London based asset management company. Formed in 2001, it today epitomises what we would call a ‘specialist boutique’, in that it is a collection of specialist fund managers and teams, each of whom are focussed on their own distinct area and market. The Global Technology Team is one such specialist team, and represents one of the largest franchises in Europe dedicated to this market, with eight dedicated technology specialists (as at May 2023). 

We like this structure, because we believe it focusses resources and encourages talent retention. The fund is managed by Nick Evans and Ben Rogoff, both of whom have over 20 years' investment experience in the technology market, alongside Fatima Lu, Alastair Unwin and Xuesong Zhao.

This fund holds investments valued in currencies other than pound sterling. Any fall in value of those currencies against the pound sterling would reduce the investments’ values in terms of sterling. Conversely any rise in a currency’s sterling value would bring about a rise in the investments’ values in terms of sterling.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

It’s important to have exposure to bonds as part of a diversified investment portfolio. They tend to be lower risk and pay a higher income than many shares.

We like this fund because it’s managed by one of the most experienced and well-respected teams in the UK corporate bond market. The fund has a more flexible investment approach than many other bond funds and the managers look for the best opportunities based on the level of risk they’re prepared to take.

Overall returns from the best bond funds tend to be lower than the top funds that invest in shares, but as well as producing a good level of income, this fund also aims to deliver attractive long term returns.

Invesco is one of the world’s leading independent global investment firms, solely focused on investment management. This is a very experienced and well respected team in the UK corporate bond market, which now consists of over 26 investment professionals. The fund is co-managed by Michael Matthews and Tom Hemmant, who between them have over 40 years’ investment experience. They plan to add more resources, primarily additional corporate bond analysts.

Investments and the income from them can fall in value. You may get back less than you invested These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

This fund offers a good way to gain exposure to the Sterling corporate bond market. It is managed by Richard Woolnough, who we believe is an excellent manager, with a strong and credible track record in this market. He is also supported by a well-resourced team including deputy manager Ben Lord. Investment decisions are taken strategically and based on the Richard’s economic outlook on global markets. This long term view is then complimented by shorter term views on specific markets and companies, which are usually driven by ideas sourced from the large team of analysts.

M&G was founded under its original name of Municipal and General Securities in 1901, as the financial arm of a British engineering company. M&G launched the first mutual fund in the UK for the general public in 1931, and has since concentrated on the management of investment funds.

The M&G Corporate Bond Fund is managed by Richard Woolnough, a very experienced manager, with a strong track record in managing UK corporate bond funds. Richard has been responsible for the M&G Corporate Bond Fund since 2004 after joining from Old Mutual. Richard is supported by Ben Lord, as well as a large team of 45 analysts, each with an average 15 years’ experience. He also has the benefit of working closely with the other fixed income fund managers at M&G.

These investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

The strategy is supported by a well-resourced and experienced management team led by Craig Inches. The team are also responsible for Royal London’s other short maturity funds, which gives them in- depth exposure to the entire short-term market ranging from overnight lending to short-term corporate credit.

The fund diversifies its holdings by investing in a combination of money market instruments, including cash, time deposits, certificates of deposit, commercial paper and floating rate notes. The fund will also invest in a range of other securities, which includes corporate bonds and supranational and agency bonds, covered bonds and/or transferable securities. 

The Fund’s holdings are also subject to predefined ethical criteria. The Fund’s manager will not consider the bonds or other securities of companies or other organisations that generate more than 10% of their turnover from either one or a combination of the following: Armaments, Tobacco or Fossil Fuels.”

Royal London Asset Management was established in 1988 and is part of the Royal London Mutual Insurance Society, which was founded in 1861. The company is focused on the UK market, offering a broad range of investment funds.

Craig Inches and Tony Cole are joint lead fund managers for the Short-Term Fixed Income fund. Craig Inches joined RLAM in 2009, becoming Head of Rates and Cash in 2016. Both Craig and Tony have of over 20 years’ experience. The team are complementary as Craig has a background in government bond management, whilst Tony tends to focus on cash products. Furthermore, the team have access to the RLAM economist to provide macro analysis.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

This is what we call a ‘positive inclusion’ approach to ethical investing. Rather than steering clear of companies that conduct business in ‘non-ethical’ sectors, such as tobacco companies or weapons manufacturers, the team at Threadneedle search for opportunities to invest in organisations that are aiming to deliver a ‘positive impact’ to the UK society.

The fund is managed by a very experienced fund manager, Tammie Tang who is extremely passionate about social investing. It was launched in 2014 as the first mainstream bond fund in this market. It was developed in partnership with Big Issue Invest, a social investment arm of The Big Issue, which aims to finance the growth of sustainable social enterprises.

Columbia Threadneedle Investments is a global asset management group formed in 2015 as a result of the merger of two companies. The firm takes responsible investing seriously and has been engaged in the space since 1998. The partnership with Big Issue Investing endorses the company’s commitment to this market.

Tammie Tang is the lead portfolio manager. She has a strong history of managing institutional mandates as well as environmental thematic mandates. Tammie is supported by the wider team including a credit research team with an average experience of 18 years. 

The Fund aims to invest in assets that are deemed to be supporting and funding socially beneficial activities and development and utilises a Social Assessment Methodology. This will affect the Fund’s exposure to certain issuers, industries, sectors, and regions, and may impact the relative performance of the Fund positively or negatively, depending on whether such investments are in or out of favour.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Despite sitting within the Alternatives asset class, which is generally associated with higher fees, the fund is run at a relatively low cost. The team is well resourced compared to peers, and is a flagship product for Aviva Investors, giving us comfort that Aviva will continue to invest in the resources and talent required to continuously drive performance. The fund also acts a good diversifying investment in a traditional portfolio.

Aviva Investors is the investment arm of Aviva plc – a multinational financial services company which has a strong business in the European, Asian, Canadian and UK general insurance markets. The firm is responsible for managing £221bn in assets as of 30th June 2023, with over 1,500 staff. Key decision makers Peter Fitzgerald and Ian Pizer have a long and successful career managing multi-asset strategies.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance. Counterparty risk: the fund could lose money if an entity with which it does business becomes unwilling or is unable to meet its obligations to the Fund.

The two lead fund managers, Ben Wallace and Luke Newman, use an effective approach to managing the fund, where they effectively run two strategies: The first is a ‘core’ portfolio, where they invest in companies they believe have good long-term growth prospects. They also run a ‘tactical’ portfolio, which aims to take advantage of short term market anomalies.

What we also like is Ben and Luke have quite distinct styles, which complement each other very well. Ben provides a more analytical and detail-oriented approach, and takes the lead on portfolio management. Luke focuses on overseeing the team and managing client relationships. Together, the duo has fostered a strong team culture as well as a successful performance track record.

Janus Henderson was formed in 2017 from the merger of Janus Capital group and Henderson Global Investors. The two lead fund managers, Luke Newman and Ben Wallace, worked together very early in their careers, and got back together again in 2005 to run this fund. They also have access to a strong and experienced team of analysts.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance. Counterparty risk: the fund could lose money if an entity with which it does business becomes unwilling or is unable to meet its obligations to the Fund.

The Jupiter UK Alpha fund is co-managed by Ed Meier and Errol Francis, Ed joined Jupiter in 2020 and prior worked at Merian Global Investors as a UK equity income portfolio manager. Errol also worked at Merian Global Investors as a UK equity fund manager and prior to that was a fund manager at Schroders. Both are well known for their high conviction, and inherently contrarian, approach to investing. They will typically back companies they favour by buying a large number of shares in them.

Many funds invest in around 80 to 100 companies, but this is more concentrated and will typically have fewer than 45 holdings at any one time. The hope is that this can lead to stronger returns because the fund manager has fewer stocks to focus on.

However, the flip side is potentially higher volatility i.e. the value of shares in the fund may rise and fall more than the typical funds’, because poor performance of an individual holding can have a bigger impact than in it would if the portfolio was more diverse.

But the fund managers have a strong track record in delivering good returns to investors and we like the fact they invest with conviction, even if a company is currently out of favour with other investors. You need to be prepared to hold your nerve though, and invest in this fund for the long term as returns over the short term can be volatile.

Jupiter is a UK based company, founded in 1985 and has grown to become a well-respected and successful fund management business. Their philosophy revolves around a belief that fund managers should be given complete freedom to run their funds without constraints, in order to deliver performance. As such, Jupiter has a strong track record in attracting talented individuals. 

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

The backbone of this fund is the distinct and robust investment process that sits behind every single investment. And it’s the same process that’s been followed for nearly 20 years which is why we like it – it gives us confidence about what to expect from this fund going forward. The team at Lindsell Train looks for ‘exceptional’ UK companies and they define exceptional as companies “likely to be profitably in business in 20 years’ time”.

You might expect there to be lots to choose from, but in Lindsell Train’s opinion there are surprisingly few that meet this test of durability. This is one of the reasons why the fund only invests in around 20 to 30 companies. The investment holdings are focused on a small number of sectors:  consumer facing businesses, specialist media, financial and technology companies. This means if for any reasons these sectors underperform the market, performance can be significantly affected. Therefore, like the fund manager, if you invest in this fund, it’s important to be investing for the long term.

Lindsell Train is a small but stable and long established boutique investment company that has successfully grown its business since being founded by the two partners (Nick Train and Michael Lindsell) in 2000. The company continues to be majority owned (72.5%) by the two founders, with the remainder owned by staff and a London-listed investment trust, the Lindsell Train Investment Trust PLC. 

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

The Artemis Income Fund is one of the stalwarts of the UK Equity Income market. And it’s easy to understand why – an experienced team adhering to a simple, but successful, investment philosophy, has delivered strong long term returns and a sustainable income stream, that warrants its place on the Barclays Funds List. The investment philosophy is important. The team believe that companies with strong balance sheets, sustainable cash flows and attractive valuations are best placed to grow their dividends over time, while also delivering capital growth for shareholders.

The fund’s three managers – Adrian Frost, Nick Shenton and Andy Marsh – plough all their resources into looking for attractive companies to invest in, rather than trying to predict what will happen to the economy. This sound investment philosophy has been applied consistently over time.

Artemis is a UK-based company founded in 1997, since when assets have grown to around £23.2bn as of 30^th September 2023. The company is majority owned by Affiliated Managers Group (AMG), who own 60% of the firm’s equity, whilst the management team (including Adrian Frost, Fund Manager of the Artemis Income Fund) and principal employees own 40%. 

Adrian Frost has managed the Income fund since its inception in 2000. The team also draws upon the other UK equity portfolio managers at Artemis, several of whom have successful and large strategies that they have also run for around a decade at the firm.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.

Like all good funds, there is an underlying philosophy which drives the process of picking companies to invest in, and ultimately performance. Clive and James are very well respected and experienced. We like this fund because of the disciplined and rigorous approach they take identifying the companies they want to invest in.

JO Hambro Capital Management is a London-based fund management company, owned by Pendal Group, a listed Australian fund management group. Key investment staff, including the managers of this fund, have equity stakes in the business, which we believe helps align the interest of investors and fund managers.Clive Beagles and James Lowen are two of the most highly regarded UK equity income managers in the market today, and have managed this fund together for over 10 years.

Whilst similar funds may have larger teams of analysts and researchers, we believe the process and the disciplined nature of their yield screening approach lends itself to being carried out by a two-person team.

Investments can fall in value. You may get back less than you invested. These are our current opinions but the future, as ever, is uncertain and outcomes may differ. Past performance of the fund and its manager are not a reliable indicator of their future performance.