The Robeco Global Consumer Trends Equities and Lindsell Train Global Equity funds have become the top new entrant to the latest update of funds most highly rated by SharingAlpha’s platform users, constituting professional fund selectors across Europe and beyond.
Other funds advancing on the leaderboard include the Cobas Internacional and Magallanes European Equity funds, which have consolidated their position amongst the five highest rated funds. Meanwhile, the LionTrust European Equity Income and Oppenheimer Developing Market funds retain their respective first and second ranking according to the platform methodology.
The funds are rated on the key factors of people, price and portfolio. The scores represent the ‘wisdom of the crowd’, as they are based more on qualitatively derived expectations of fund selectors rather than backward looking quantitative filtering.
Highly rated funds
| Fund | Domicile | Average Rating | Raters | Position |
|---|---|---|---|---|
| Liontrust European Income Fund | United Kingdom | 5 | 7 | same |
| Oppenheimer Developing Markets Fund | United States | 4.9 | 5 | same |
| Cobas Internacional FI | Spain | 4.87 | 5 | up |
| Magallanes European Equity FI | Spain | 4.83 | 20 | up |
| Robeco Global Consumer Trends Equities | Luxembourg | 4.82 | 5 | new |
| Sextant PEA | France | 4.82 | 15 | same |
| Invesco Global Leisure Fund | Luxembourg | 4.81 | 8 | down |
| Lindsell Train Global Equity Fund | Ireland | 4.8 | 7 | new |
| Cobas Selección FI | Spain | 4.8 | 8 | down |
| Vanguard US Opportunities Fund | Ireland | 4.8 | 6 | down |
From the scores attributed to individual funds by fund selectors, SharingAlpha can compare the performance of those funds against equivalent ETFs, to gauge the alpha generation attributable to the skill of the selector. The closer the performance of the fund to the expectation of the selector, the higher the score of the selector. This is called a ‘Hit Score’ by SharingAlpha, which can then be compared between peers to identify groups of selectors who consistently do well, exhibiting selection skills.
The platform also enables fund selectors to run funds of funds, to establish asset allocation rankings. Again, this facilitates the generation of a track record of measurable skill on the part of the selector.
The data generated by platform users also enables SharingAlpha to provide updated rankings of providers, popular funds, popular categories, highly rated funds by category, and highly rated hedge funds. The ratings are provided on the basis of data available to the end of July 2018.
Highly rated providers
| Provider | Funds Rated | Ratings | Rating |
|---|---|---|---|
| Fundsmith | 3 | 67 | 4.56 |
| Robeco | 25 | 83 | 4.51 |
| MainFirst | 9 | 62 | 4.44 |
| Deutsche | 31 | 76 | 4.43 |
| Liontrust | 7 | 124 | 4.37 |
| Schroders | 42 | 152 | 4.36 |
| M&G | 23 | 132 | 4.34 |
| GAM | 29 | 126 | 4.32 |
| Legg Mason | 13 | 56 | 4.31 |
| Pimco | 36 | 83 | 4.29 |
Most popular funds
| Fund | Domicile | Fund of Fund Count | Position |
|---|---|---|---|
| Fundsmith Equity | United Kingdom | 26 | same |
| Old Mutual Global Equity Absolute Ret Fd | Ireland | 21 | same |
| M&G Optimal Income Fund | United Kingdom | 16 | up |
| Magallanes European Equity FI | Spain | 15 | up |
| BSF European Opportunities Extension Fd | Luxembourg | 14 | same |
| Nordea 1 – Stable Return Fund | Luxembourg | 14 | down |
| Morgan Stanley INVF Global Opportunity Fund | Luxembourg | 14 | up |
| JPM Global Macro Opportunities Fund | Luxembourg | 13 | new |
| Allianz Europe Equity Growth | Luxembourg | 12 | down |
| Hermes Global Emerging Mkts | Ireland | 12 | down |
Popular categories
| Category | Score | Allocation Score | Position |
|---|---|---|---|
| Europe Equity Mid/Small Cap | 100 | 100 | same |
| UK Equity Mid/Small Cap | 59 | 51 | up |
| Market Neutral | 49 | 47 | down |
| Africa Equity | 54 | 17 | up |
| Consumer Goods & Services Sector Equity | 20 | 38 | new |
| Europe Equity Large Cap | 39 | 19 | same |
| Africa Fixed Income | 34 | 23 | down |
| Precious Metals Sector Equity | 40 | 15 | down |
| Asia ex-Japan Equity | 28 | 21 | up |
| Technology Sector Equity | 29 | 19 | down |
Highly rated funds by category
| Category | Fund | Provider |
|---|---|---|
| Aggressive Allocation | MFS Meridian Prudent Wealth Fund | MFS |
| Allocation | BlackRock Global Allocation Fund | Blackrock |
| Asia ex-Japan Equity | Schroder ISF Asian Opportunities | Schroders |
| Asia Fixed Income | Matthews Asia Fds Asia Credit Opps | Matthews Asia |
| Asia Equity | Fidelity Pacific Fund | Fidelity |
| Cautious Allocation | Invesco Pan European High Income Fund | Invesco |
| Greater China Equity | Janus Henderson China Opportunities Fund | Janus Henderson |
| Commodities Broad Basket | Vontobel Dynamic Commodity | Vontobel |
| Consumer Goods & Services Sector Equity | Robeco Global Consumer Trends Equities | Robeco |
| Convertibles | UBS (Lux) IF Global Convertible Bonds | UBS |
| Currency | First Trust FactorFX ETF | First Trust |
| Emerging Markets Equity | Oppenheimer Developing Markets Fund | Oppenheimer |
| Emerging Markets Fixed Income | BGF Emerging Markets Bond Fund | Blackrock |
| Energy Sector Equity | First Trust North Amer Engy InfrasFund | First Trust |
| Europe Equity Large Cap | Liontrust European Income Fund | Liontrust |
| Europe Equity Mid/Small Cap | Magallanes European Equity FI | Magallanes |
| Euro Fixed Income | La Francaise LUX Multistratégies Obligataires | La Francaise |
| Euro Money Market | BNP Paribas Money 3M | BNP Paribas |
| Flexible Allocation | Belgravia Épsilon FI | Belgravia |
| Global Equity Large Cap | Lindsell Train Global Equity Fund | Lindsell Train |
| Global Equity Mid/Small Cap | True Value FI | Renta 4 Gestora |
| Global Equity | Eurizon Sustainable Global Equity | Eurizon Capital |
| Global Fixed Income | PIMCO GIS Global Bond Fund | Pimco |
| Market Neutral | Pictet TR – Agora | Pictet |
| Long/Short Equity | Charlemagne OAKS Emerging and Frontier Opp Fund | Fiera |
| High Yield Fixed Income | Nordea 1 – European High Yield Bd Fd II | Nordea |
| India Equity | Kotak India Midcap Fund | Kotak |
| Industrials Sector Equity | RobecoSAM Smart Materials Fund | Robeco |
| Inflation Linked | Sanlam Multi Mgd Inflation Lnkd Bond | Sanlam |
| Japan Equity | Janus Henderson Horizon Jpn Smr Coms Fd | Janus Henderson |
| Miscellaneous | Eaton Vance Global High Yield Bond Fund | Eaton Vance |
| Moderate Allocation | Acatis – Gané Value Event Fonds UI | Acatis |
| Multialternative | Schroder GAIA Two Sigma Diversified | Schroders |
| Other Alternative | H2O Vivace | H2O |
| Other Europe Equity | Sextant PEA | Amiral Gestion |
| Other Fixed Income | GAM Star MBS Total Return | GAM |
| Precious Metals Sector Equity | BGF World Gold Fund | Blackrock |
| Property-Direct | Schroder UK Real Estate Fund | Schroders |
| Other Sector Equity | RobecoSAM Sustainable Water Fund | Robeco |
| Real Estate Sector Equity | Schroder Global Cities Real Estate Fund | Schroders |
| Natural Resources Sector Equity | Investec GSF Global Natural Resources Fd | Investec |
| Technology Sector Equity | DNB Fund Technology | DNB |
| Sterling Fixed Income | GAM Star Credit Opportunities (GBP) | GAM |
| UK Equity Large Cap | Jupiter UK Special Situations Fund | Jupiter |
| UK Equity Mid/Small Cap | Liontrust Special Situations Fund | Liontrust |
| US Fixed Income | GAM Star Credit Opportunities (USD) | GAM |
| US Equity Large Cap Blend | Ossiam Shiller Bcly Cape US Sect Val TR | Natixis |
| US Equity Large Cap Growth | MS INVF US Growth Fund | Morgan Stanley |
| US Equity Large Cap Value | Robeco BP US Premium Equities | Robeco |
| US Equity Mid Cap | Vanguard US Opportunities Fund | Vanguard |
| US Equity Small Cap | Nuveen NWQ Small-Cap Value Fund | Nuveen |
| Africa Equity | Marriott Dividend Growth | Marriott |
| Africa Fixed Income | STANLIB Aggressive Income | STANLIB |
Highly rated hedge funds
| Fund | Domicile | Rating | Raters | Category |
|---|---|---|---|---|
| Old Mutual Global Equity Absolute Ret Fd | Ireland | 39 | 39 | Market Neutral |
| Liontrust GF European Strategic Eq Fd | Ireland | 38 | 38 | Long/Short Equity |
| Aviva Investors Multi-Strat Trgt Ret Fd | Luxembourg | 36 | 36 | Multialternative |
| Old Mutual Strategic Absolute Ret Bd Fd | Ireland | 33 | 33 | Other Alternative |
| RAM (Lux) Sys L/S European Equities | Luxembourg | 31 | 31 | Market Neutral |
| 36ONE SNN QI Hedge Fund | South Africa | 29 | 29 | Long/Short Equity |
| Jupiter Global Absolute Return | Luxembourg | 27 | 27 | Multialternative |
| Nordea 1 – Global Long Short Eq Fd USD H | Luxembourg | 26 | 26 | Long/Short Equity |
| Invesco Global Targeted Returns Fund | Luxembourg | 25 | 25 | Multialternative |
| Pensato Europa Absolute Return Fund | Ireland | 24 | 24 | Long/Short Equity |
| GAM Systematic Alternative Risk Premia | Ireland | 17 | 17 | Multialternative |
| MLIS Marshall Wace Tops UCITS Fd (MN) | Luxembourg | 15 | 15 | Market Neutral |
| Schroder GAIA Two Sigma Diversified | Luxembourg | 15 | 15 | Multialternative |
| Legg Mason WA Macro Opportunities Bd Fd | Ireland | 14 | 14 | Other Alternative |
| Jupiter Global Fund – Jupiter Europa | Luxembourg | 10 | 10 | Long/Short Equity |
| Polar Capital UK Absolute Equity Fund | Ireland | 9 | 9 | Long/Short Equity |
| Uni-Global Alt Risk Premia | Luxembourg | 9 | 9 | Multialternative |
| R Parus Fund | Ireland | 8 | 8 | Long/Short Equity |
| Charlemagne OAKS Emerging and Frontier Opp Fund | Ireland | 8 | 8 | Long/Short Equity |
| Artemis Pan-European Absolute Return Fd | United Kingdom | 8 | 8 | Multialternative |
| Pictet TR – Agora | Luxembourg | 7 | 7 | Market Neutral |
| Artemis US Extended Alpha Fund | United Kingdom | 7 | 7 | Long/Short Equity |
| SLI Global Absolute Return Strategies Fd | Luxembourg | 7 | 7 | Multialternative |
| DWS Concept Kaldemorgen | Luxembourg | 7 | 7 | Multialternative |
| Janus Henderson United Kingdom AbsRet Fd | Luxembourg | 7 | 7 | Long/Short Equity |
Selector comments
Alexandre de Mahieu, senior investment advisor at Vellut, Namèche & Associés notes of the M&G Optimal Income fund that “A four star rating corresponds to the good quality of this fund. The size of the fund becomes really very important. Maybe not so easy to manage any more.”
Yuli Petreikov, senior portfolio manager at Pioneer Wealth Management, notes of the GAM Star Credit Opportunities (USD): “A very interesting value proposition – investing in junior debt of investment grade companies. The idea is that statistically, investment grade companies, in general, don’t default. So in order to get the best yield you should invest in the most junior debt of investment grade companies, getting similar yield as with High Yield bonds, but with better issuer credit. These bonds usually have a higher coupon, and many are fixed to float so the fund has less sensitivity to change in interest rates. The fund shows duration of 5-6 years, but acts as if the duration is closer to 3. I believe the fund has a place in most portfolios, as expected returns from other classes are not great.”
