15 March 2019
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The Vanguard US Opportunities, azValor Internacional and Dodge & Cox International Stock funds have have joined the list of those most highly rated by SharingAlpha's platform users, constituting professional fund selectors across Europe and beyond.
Other funds advancing on the leaderboard include the Russian Prosperity, azValor Iberia, Schroder GAIA Two Sigma Diversified and Cobas Selección. The top 10 fund slipping over the past month measured is the Magallanes European Equity.
the Liontrust European Income fund retains the strongest rating, according to the key factors of people, price and portfolio, although the Prosperity Cub has held on to its second place rating also. 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 | Rating | Ratings | Position |
|---|---|---|---|---|
| Liontrust European Income Fund | United Kingdom | 5 | 8 | same |
| Prosperity Prosperity Cub | Cayman Islands | 4.86 | 7 | same |
| Russian Prosperity Fund | Cayman Islands | 4.83 | 8 | up |
| azValor Iberia FI | Spain | 4.83 | 6 | up |
| Magallanes European Equity FI | Spain | 4.83 | 22 | down |
| Vanguard US Opportunities Fund | Ireland | 4.82 | 6 | new |
| azValor Internacional FI | Spain | 4.81 | 17 | new |
| Schroder GAIA Two Sigma Diversified | Luxembourg | 4.81 | 18 | up |
| Cobas Selección FI | Spain | 4.8 | 8 | up |
| Dodge & Cox International Stock Fund | United States | 4.8 | 6 | new |
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 November 2018.
Highly rated providers
| Provider | Funds rated | Ratings | Rating |
|---|---|---|---|
| H2O | 10 | 58 | 4.48 |
| Fundsmith | 3 | 100 | 4.47 |
| Comgest | 10 | 60 | 4.45 |
| Robeco | 29 | 99 | 4.41 |
| Liontrust | 8 | 129 | 4.38 |
| M&G | 24 | 148 | 4.33 |
| American Funds | 60 | 85 | 4.33 |
| Schroders | 57 | 253 | 4.3 |
| Baillie Gifford | 31 | 104 | 4.27 |
| Jupiter | 26 | 138 | 4.19 |
Most popular funds
| Name | Domicile | Fund of fund count | Position |
|---|---|---|---|
| Fundsmith Equity | United Kingdom | 33 | same |
| Merian Global Equity Absolute Return Fd | Ireland | 24 | same |
| Morgan Stanley INVF Global Opportunity Fund | Luxembourg | 22 | up |
| M&G Optimal Income Fund | United Kingdom | 20 | down |
| Nordea 1 - Stable Return Fund | Luxembourg | 18 | up |
| BSF European Opportunities Extension Fd | Luxembourg | 18 | up |
| Magallanes European Equity FI | Spain | 17 | down |
| Sextant Grand Large | France | 14 | up |
| JPM Global Macro Opportunities Fund | Luxembourg | 13 | down |
| True Value FI | Spain | 13 | new |
Popular categories
| Category | Score | Allocation score | Position |
|---|---|---|---|
| Global Macro | 100 | 100 | same |
| Market Neutral | 50 | 36 | same |
| UK Equity Mid/Small Cap | 43 | 36 | same |
| Long/Short Credit | 52 | 27 | up |
| Europe Equity Mid/Small Cap | 38 | 36 | down |
| Europe Emerging Markets Equity | 64 | 10 | same |
| Africa Equity | 46 | 18 | same |
| Europe Equity Large Cap | 37 | 22 | same |
| Precious Metals Sector Equity | 50 | 13 | same |
| Consumer Goods & Services Sector Equity | 21 | 27 | same |
Highly rated funds by category
| Category | Fund | Provider |
|---|---|---|
| Aggressive Allocation | MFS Meridian Prudent Wealth Fund | MFS |
| Asia ex-Japan Equity | Stewart Investors Asia Pacific Ldrs Fd | First State |
| Asia Fixed Income | Matthews Asia Fds Asia Credit Opps | Matthews Asia |
| Asia Equity | Fidelity Pacific Fund | Fidelity |
| Cautious Allocation | Cartesio X FI | Cartesio |
| Greater China Equity | Janus Henderson China Opportunities Fund | Janus Henderson |
| Commodities Broad Basket | Vontobel Dynamic Commodity | Vontobel |
| Consumer Goods & Services Sector Equity | Invesco Global Leisure Fund | Invesco |
| Convertibles | Lazard Convertible Global | Lazard |
| 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 | azValor Iberia FI | azValor |
| 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 | azValor Internacional FI | azValor |
| Global Equity Mid/Small Cap | Baillie Gifford Global Discovery Fund | Baillie Gifford |
| 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 | Janus Henderson United Kingdom AbsRet Fd | Janus Henderson |
| High Yield Fixed Income | Manulife Emerging Markets Debt Fund | Manulife |
| India Equity | Kotak India Midcap Fund | Kotak |
| Industrials Sector Equity | RobecoSAM Smart Materials Fund | Robeco |
| Japan Equity | Parvest Equity Japan Small Cap | BNP Paribas |
| Moderate Allocation | Acatis - Gané Value Event Fonds | Acatis |
| Multialternative | Schroder GAIA Two Sigma Diversified | Schroders |
| Other Alternative | Bridgewater Pure Alpha Strat 18% Vol | Bridgewater |
| Other Equity | RobecoSAM Sustainable Water Fund | Robeco |
| 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 |
| Real Estate Sector Equity | AXA Aedificandi | AXA IM |
| Natural Resources Sector Equity | Investec GSF Global Natural Resources Fd | Investec |
| Technology Sector Equity | Pictet-Robotics | Pictet |
| Sterling Fixed Income | Baillie Gifford High Yield Bond Fund | Baillie Gifford |
| UK Equity Large Cap | Liontrust Special Situations Fund | Liontrust |
| UK Equity Mid/Small Cap | Liontrust UK Smaller Companies Fund | Liontrust |
| US Fixed Income | Nomura Fds US High Yield Bond Fund | Nomura |
| US Equity Large Cap Blend | Vanguard US Opportunities Fund | Vanguard |
| 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 | Threadneedle American Smlr Coms Fd(US) | Columbia Threadneedle |
| US Equity Small Cap | Nuveen NWQ Small-Cap Value Fund | Nuveen |
| Africa Equity | Marriott Dividend Growth | Marriott |
| Africa Fixed Income | STANLIB Aggressive Income | STANLIB |
| Europe Emerging Markets Equity | Prosperity Prosperity Cub | Prosperity Capital |
| Infrastructure Sector Equity | MS INVF Global Infrastructure Fund | Morgan Stanley |
| Long/Short Credit | Candriam Bds Credit Opportunities | Candriam |
| Global Macro | H2O Adagio | H2O |
Highly rated hedge funds
| Fund | Domicile | Rating | Ratings | Category |
|---|---|---|---|---|
| Schroder GAIA Two Sigma Diversified | Luxembourg | 4.81 | 18 | Multialternative |
| MLIS Marshall Wace Tops UCITS Fd (MN) | Luxembourg | 4.78 | 13 | Market Neutral |
| SVS Church House Tenax Abs Ret Strts Fd | United Kingdom | 4.76 | 7 | Multialternative |
| Pictet TR - Agora | Luxembourg | 4.76 | 7 | Market Neutral |
| LF Odey Absolute Return Fund | United Kingdom | 4.75 | 6 | Multialternative |
| Janus Henderson United Kingdom AbsRet Fd | Luxembourg | 4.73 | 9 | Long/Short Equity |
| Luxembourg Life Fd Pn Lg Tr Gr | Luxembourg | 4.62 | 6 | Multialternative |
| Hermes Absolute Return Credit Fund | Ireland | 4.62 | 5 | Market Neutral |
| Man GLG Eurp Mid-Cap Eq Alt | Ireland | 4.61 | 7 | Long/Short Equity |
| BNY Mellon Global Real Return Fd (EUR) | Ireland | 4.52 | 5 | Multialternative |
| Artemis Pan-European Absolute Return Fd | United Kingdom | 4.51 | 8 | Long/Short Equity |
| MW TOPS UCITS Fund | Ireland | 4.49 | 7 | Long/Short Equity |
| BSF Fixed Income Strategies Fund | Luxembourg | 4.48 | 7 | Market Neutral |
| Polar Capital UK Absolute Equity Fund | Ireland | 4.47 | 12 | Long/Short Equity |
| LFIS Vision UCITS Premia | Luxembourg | 4.43 | 6 | Multialternative |
| JPM Global Macro Opportunities Fund | Luxembourg | 4.41 | 20 | Multialternative |
| Bridgewater Pure Alpha Strat 18% Vol | United States | 4.39 | 7 | Other Alternative |
| R Parus Fund | Ireland | 4.38 | 9 | Long/Short Equity |
| F&C Global Equity Market Neutral Fund | United Kingdom | 4.33 | 7 | Market Neutral |
| Merian Global Equity Absolute Return Fd | Ireland | 4.31 | 41 | Market Neutral |
| Liontrust GF European Strategic Eq Fd | Ireland | 4.25 | 38 | Long/Short Equity |
| DWS Concept Kaldemorgen | Luxembourg | 4.24 | 7 | Multialternative |
| Jupiter Global Fund - Jupiter Europa | Luxembourg | 4.18 | 10 | Long/Short Equity |
| Invesco Global Targeted Returns Fund | Luxembourg | 4.16 | 24 | Multialternative |
