In this ratings round up, Citywire Global takes a closer look at the European Equities asset class, which has 216 managers rated this month.
Out of this rated elite, this month five mangers have obtained a AAA-rating, 23 hold a AA-rating, 57 have an A-rating and 131 have received a + rating.
Highest New Entrant
Fund manager: Paul Barton, Migros Bank
Rating: Citywire A-rated
The Zurich-based fund manager Paul Barton at Swiss group Migros Bank has achieved his first ever Citywire rating in our November ratings.
Barton co-runs four funds with Patrick Hasler including the Mi-Fonds (CH) - EuropeStock A fund in Equity Europe sector and the Mi-Fonds (CH) Inst-SmallerStock Switzerland which contributes most to his A-rating.
Out of the two funds, the SmallerStock Switzerland fund is best-performing on an absolute basis, having returned 59.8% over the past three years. This compares to a rise of 57.5% by its benchmark, the Swiss Performance Index Small & Mid TR, over the three years to the end of October 2014.
Fund manager: Ken Hsia, Investec Asset Management
Rating: Citywire AAA-rated
Ken Hsia at Investec Asset Management has gone up a notch from last month’s AA-rating to AAA in November. Last month Hsia successfully returned to our ratings with a AA-rating after a three-year hiatus.
Based on his stellar risk-adjusted performance on the Investec GSF European Equity fund over the past 31 months, Hsia has risen to a Citywire AAA-rating. This fund has returned 45.82% over the three years to the end of October 2014, compared to the FTSE World Europe TR EUR index, which rose 28.86% in euro terms.
At the sector level, Hsia has a strong bias towards financials (22.5%), followed by industrials (17%) and consumer discretionary (14.4%). In terms of geographic allocation, the UK and France make up almost 40% of the portfolio, accounting for 29.5% and 14.6% respectively.
Fund manager: Swann Chmil, Fideuram
Rating: Citywire A-rated
Fund manager Swann Chmil at Italian investment firm Fideuram has returned to our ratings with an A-rating after a 27-month hiatus. Swann was last A-rated in August 2012. Chmil runs the Ailis Equity Europe and the Interfund Global funds which he took over in April 2007.
For the Ailis Equity Europe fund, as at the end of September, Swann put the biggest bet into financials, which made up 20.74% of the total assets. This was followed by consumer goods (17.44%) and health care (13.08%), respectively.
His ratings upgrade is mainly drawn from his performance on the Interfund Global fund, having delivered 62.59% over the past three years in euro terms. This outstrips the LCI Mixed Asset EUR Agg – Global index, which rose 45.63% over the same timeframe.