Four SYZ Group managers have made a comeback, regaining a Citywire A rating following a period of underperformance in their US equities fund due to poor stock selection.
All four managers were previously AA-rated between January 2018 and June 2018, before losing their ratings altogether in July.
The CHF 171.4 million fund primarily invests in large-cap US equities. According to the fund's factsheet, US equities performed strongly in July and were led by large, multinational companies.
This boosted the fund's performance after it 'lagged the benchmark on poor stock selection' in June. The factsheet noted that overweights to utilities and real estate negatively impacted the fund amid interest rates rises, along with an underweight in healthcare.
The fund's top sectors include IT (15.9%), financials (15.1%), industrials (14.6%) and consumer discretionary (14.1%) as of July 2018.