Belgravia Épsilon, PIMCO GIS Global Bond, Odey Absolute Return funds join most highly rated on SharingAlpha

Jonathan Boyd
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Belgravia Épsilon, PIMCO GIS Global Bond, Odey Absolute Return funds join most highly rated on SharingAlpha

The latest monthly update of highly rated funds on the SharingAlpha platform has highlighted the Belgravia Épsilon, PIMCO GIS Global Bond and Odey Absolute Return funds as joining the list of top rated funds, as selected by the platforms users constituting professional fund selectors across Europe and beyond.

The list of 10 most highly rated funds includes four risers, two that have fallen, and the three new additions.

Highly rated funds by overall rating

Fund Domicile Rating Ratings Position
Belgravia Épsilon FI Spain 4.93 5 new
Magallanes European Equity FI Spain 4.83 19 up
Cobas Selección FI Spain 4.82 7 up
Vanguard US Opportunities Fund Ireland 4.82 6 up
ECP Flagship SICAV European Value Luxembourg 4.8 6 up
Sextant PEA France 4.8 15 down
Schroder GAIA Two Sigma Diversified Luxembourg 4.78 13 down
Nordea 1 – European High Yield Bd Fd II Luxembourg 4.78 9 same
PIMCO GIS Global Bond Fund Ireland 4.76 10 new
LF Odey Absolute Return Fund United Kingdom 4.76 8 new

SharingAlpha has also published updated tables of highly rated providers, most popular funds, popular categories and highly rated funds by category. The results are based on the expressed preferences and expectations of fund selectors. They review funds on the basis of three factors: people, price and portfolio.

From the scores attributed to individual funds by fund selectors, SharingAlpha can compared 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.

Highly rated providers

Provider Funds Rated Ratings Rating Position
Robeco 24 67 4.6 same
Fundsmith 3 62 4.56 same
MainFirst 9 51 4.51 new
Legg Mason 12 51 4.37 new
Schroders 42 151 4.37 down
Deutsche 32 73 4.37 down
M&G 19 114 4.32 same
GAM 28 109 4.32 down
Liontrust 6 114 4.32 down
Pimco 34 78 4.28 down

Most popular funds

Fund Domicile Raters Allocation Position
Fundsmith Equity United Kingdom 38 22 same
Old Mutual Global Equity Absolute Ret Fd Ireland 34 17 same
Nordea 1 – Stable Return Fund Luxembourg 42 14 up
M&G Optimal Income Fund United Kingdom 31 13 up
Magallanes European Equity FI Spain 19 12 up
Allianz Europe Equity Growth Luxembourg 28 11 down
M&G Dynamic Allocation Fund United Kingdom 18 11 new
BSF European Opportunities Extension Fd Luxembourg 35 11 up
Robeco BP Global Premium Equities Luxembourg 16 10 new

Popular categories

Category Rating Allocation Position
Europe Equity Mid/Small Cap 100 100 same
Market Neutral 46 57 same
UK Equity Mid/Small Cap 60 35 same
Africa Fixed Income 34 45 same
Africa Equity 53 8 same
Precious Metals Sector Equity 40 17 up
Europe Equity Large Cap 37 15 down
Currency 34 17 up
Asia ex-Japan Equity 29 22 same
Africa Money Market 6 47 down

Highly rated funds by category

Category Fund Provider
Aggressive Allocation MFS Meridian Prudent Wealth Fund MFS
Allocation Nordea 1 – Stable Return Fund Nordea
Asia ex-Japan Equity Schroder ISF Asian Total Return 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 MS INVF Global Brands Fund Morgan Stanley
Convertibles UBS (Lux) IF Global Convertible Bonds UBS
Currency First Trust FactorFX ETF First Trust
Emerging Markets Equity Aberdeen Global Emerging Markets Eq Fd AberdeenStandard
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 ECP Flagship SICAV European Value European Capital Partners
Europe Equity Mid/Small Cap Magallanes European Equity FI Magallanes
Euro Fixed Income GAM Star Credit Opportunities (EUR) GAM
Euro Money Market BNP Paribas Money 3M BNP Paribas
Flexible Allocation Belgravia Épsilon FI Belgravia
Global Equity Large Cap Fundsmith Equity Fund Feeder Fundsmith
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 MLIS Marshall Wace Tops UCITS Fd (MN) Bank of America Merrill Lynch
Long/Short Equity Artemis US Extended Alpha Fund Artemis
High Yield Fixed Income Nordea 1 – European High Yield Bd Fd II Nordea
India Equity Kotak India Midcap Fund Kotak
Inflation Linked Sanlam Multi Mgd Inflation Lnkd Bond Sanlam
Japan Equity Man GLG Japan CoreAlpha Equity MAN GLG
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 Candriam Bds Credit Opportunities Candriam
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 Carmignac Pf Commodities Carmignac
Technology Sector Equity Pictet-Digital Pictet
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 First Trust Large Cap Core AlphaDEX Fd First Trust
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

Selector comments

Users of the SharingAlpha platform have also provided comment on some of the standout funds, according to the latest monthly update.

Beatriz Hernandez Ribes –  M&G Optimal Income Fund –  “One of the best funds in the flexible fixed income universe, which in the past has shown a very good performance due to the portfolio manager’s ability to find opportunities in the fixed income market. The fund has the distinctive feature that it can invest a little percentage of the portfolio in equity markets, therefore although we are going through a tough environment within fixed income, we still have conviction on Richard Woolnough’s skill to find opportunities in the market.

Beatriz Hernandez Ribes –  Old Mutual Global Equity Absolute Ret Fd – ” It is one of the funds we would recommend in atl Capital for our allocation in the alternative space. It is a very well diversified fund with worldwide companies, and it has neutral exposure to markets. The fund has a low correlation to equity and fixed income market and uses a quantitative system to construct the longs and the shorts. This approach limits the fund volatility and in the past it was proven to obtain positive returns in bear markets.”

Ignacio Martín Ocaña –  Old Mutual Global Equity Absolute Ret Fd –  “Although an attractive long-short market neutral approach with no correlation to equity markets…I think the Fund has too much AUM (over $13bn) to manage this strategy in a comfortable way so I can’t imagine how it should perform as well as it has done in the past.”

Jose Reinosa –  Nordea 1 – Stable Return Fund –  “Mixed allocation fund with focus on capital preservation. The manager mitigates downside risks using derivatives, and the equity exposure is flexible but around 50% on average. They do some bets on currencies as well. Several decisions have hurt the performance recently, but my confidence in the strategy remains high.”

Thierry Guerillot –  Acatis – Gané Value Event Fonds UI –  “An income focused balanced portfolio. Value investing ‘à la Warren Buffet’ on the equity side with a potential of 10% per annum. Focus on US Large Cap and German mid cap equities. On the bond side, target of 6% per annum. The asset allocation is very flexible between equities and bonds and could be very aggressive (more than 70% invested in equities today). Surprisingly, a very consistent risk/return ratio as the beta vs the MSCI World is limited to 0.6. Actually, as the share of the equities in the portfolio could be high, the level of low duration bonds is structurally important.”

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