Schroder Core UK Equity - Neutral

FUND RESEARCH UPDATE: Fund Rating downgraded to Neutral

Jeremy Beckwith 2 February, 2015 | 6:00AM
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Following the most recent Morningstar Analyst Ratings meeting, we have downgraded the Schroder Core UK Equity fund to a Morningstar Analyst Rating™ of Neutral. The fund previously held a Bronze rating. The Neutral rating reflects our lower conviction in the depleted business cycle team and a long-term performance profile that we view as disappointing for a core fund offering. The fund continues to be run by an experienced and considered portfolio manager in David Docherty, however, the team has seen some notable departures, most recently Julie Dean in September 2014. In addition, although we appreciate that the business cycle assessment can strongly influence the fund's positioning and so returns may from time-to-time deviate meaningfully from the index, 2014’s weak relative performance has highlighted some weaknesses in stock selection. Given our lower conviction in the business cycle team and also in Docherty’s ability to execute the approach successfully we have downgraded the fund’s rating to Neutral.

See the latest Morningstar OBSR fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Schroder Sustainable UK Equity A Acc3.22 GBP-0.58Rating

About Author

Jeremy Beckwith  is Director of Manager Research for Morningstar UK

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