Following a recent Morningstar Analyst Ratings Meeting, we have downgraded the Kames UK Equity fund to a Morningstar Analyst Rating of Bronze. The fund was previously rated Silver.
Although the fund has a strong long term track record under current manager Stephen Adams, returns over the medium term have been weaker versus peers. In addition, the manager has recently taken on additional responsibilities within the group, having been promoted to head of equities. Adams has passed some UK team responsibilities to his colleague Philip Howarth, but has additional non-UK equity responsibilities in his new role. Concerns over these two issues have resulted in the rating change.
See the latest Morningstar fund rating news here.
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