Three abrdn funds lose FE fundinfo 5-Crown rating
investmentweek.co.uk19 funds gained FE fundinfo's 5-Crown rating, bringing the total number of 5-Crown rated funds to 261.
The abrdn China A Share Equity fund and abrdn Sterling Money Market fund went from a 5-Crown rating to 3-Crown in the latest rebalance, and abrdn MyFolio Market V fund was downgraded to a 4-Crown rating.
abrdn China A Share Equity was also the worst performing fund of 2023, according to data from Morningstar Direct, losing 29.3% last year.
To qualify for the 5-Crown rating, funds must have a three-year history and be in the top 10% of «Crown scores», which are calculated in three parts, each referenced to a benchmark.
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Quilter Investors and Muzinich & Co also lost three 5-Crown ratings, while Carvetian Capital lost all six and went to zero 5-Crown rated funds.
Meanwhile, 19 funds gained FE fundinfo's 5-Crown rating, bringing the total number of 5-Crown rated funds to 261. M&G and Canada Life gained three 5-Crown ratings, bringing their total from nine to 12 and zero to three, respectively.
Charles Younes, deputy chief investment officer at FE Investments, said: «As the last three years have shown significant and quick market rotation, the Crown ratings are more important than ever to give a solid quantitative assessment of a fund's performance over a market cycle.»
For sectors, IA Sterling Strategic Bond funds had the highest percentage of 5-Crown ratings at 28.6%, with 22 out of 77 funds being 5-Crown rated. Active bond managers were commended for protecting their funds from downside by decreasing their interest rate sensitivity.
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The IA Japan sector followed with 23.1% 5-Crown ratings, which
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