Meet the latest funds to earn an Elite Rating

By Juliet Schooling Latter on 3 August 2026 in News

This summer’s review sees five funds awarded Elite Ratings, reflecting our confidence in their managers and long-term potential. We’ve also introduced one new fund to our Elite Radar, highlighting a strategy we believe has the potential to achieve Elite status in the future. Elsewhere, five funds have moved from Elite Radar to Elite Rated, while one strategy moves to Elite Radar following a change in lead manager.

New Elite Ratings

Capital Group Investment Company of America

Few equity strategies can match the history of this fund, which has been investing in US equities for more than 90 years. What continues to set the strategy apart is Capital Group’s distinctive multi-manager structure, where seven experienced portfolio managers independently invest their highest-conviction ideas alongside the firm’s research analysts. This approach has historically delivered attractive long-term returns, with lower volatility than the broader US market, while reducing dependence on any single individual. We believe it remains an excellent core US equity holding for investors seeking broad market exposure through a highly experienced investment team.

International Biotechnology Trust

Biotechnology can be one of the most rewarding but challenging areas of the market, making manager expertise particularly important. This trust has consistently demonstrated the benefits of combining deep scientific knowledge with disciplined portfolio construction. Co-managers Ailsa Craig and Marek Poszepczynski draw on extensive industry experience to identify promising companies across the biotechnology spectrum, while maintaining diversification across therapeutic areas and stages of development. Their approach has produced an excellent long-term track record through a variety of market environments.

Invesco Global Equity Income Trust

Rather than focusing solely on today’s highest-yielding companies, the managers invest across dividend compounders, businesses with strong capital growth potential and companies capable of restoring future dividend payments. This balanced philosophy has enabled the trust to deliver an impressive long-term track record while avoiding excessive style bias. Both the experienced management team and disciplined investment process, enables the trust to offer an attractive combination of sustainable income and capital growth for long-term investors.

Polar Capital Artificial Intelligence

This fund has impressed us with its broad opportunity set, investing not only in companies building AI infrastructure but also in businesses across multiple sectors that stand to benefit from adopting the technology. Led by Xuesong Zhao and backed by Polar Capital’s highly regarded technology team, the fund combines thematic expertise with a disciplined valuation framework and has delivered excellent returns since launch. This fund offers investors a differentiated way to access the long-term growth potential of artificial intelligence.

Polar Capital Global Technology

Technology has been one of the defining investment themes of the past decade, but consistently outperforming in such a fast-moving sector requires genuine specialist expertise. This fund has demonstrated exactly that under the leadership of Nick Evans and his team. Rather than simply backing the largest technology companies, the managers combine thematic insight with disciplined bottom-up stock selection, investing across established leaders and emerging innovators while remaining alert to the risk of technological disruption. Supported by one of Europe’s largest dedicated technology research teams, the fund has built an outstanding long-term track record and we believe it deserves recognition as one of the leading specialist technology strategies available to investors.

New Elite Radar

IFSL Marlborough Global SmallCap

Smaller companies remain one of the most fertile areas for active managers, and this fund has caught our attention thanks to its disciplined and genuinely long-term investment approach. Managed by Tobias Bucks and Simon Wood, the strategy focuses on identifying “unrecognised growth” companies whose long-term earnings potential has yet to be fully appreciated by the market. We particularly like the team’s willingness to build positions gradually, as conviction develops, and their commitment to remaining true to the global small-cap universe. Following the recent merger with IFSL Marlborough Global Innovation, we look forward to monitoring the strategy’s progress as a larger and broader portfolio.

Five Elite Radar funds move to Elite Rated

Allianz China A-Shares

Allianz China A-Shares has earned promotion to an Elite Rating following a sustained period of strong execution under lead manager Yang Lu, who took over the strategy in July 2023. Since then, the fund has returned 52.88%, compared with 27.51% for the IA China/Greater China sector*, demonstrating the manager’s ability to generate significant alpha despite a challenging backdrop for Chinese equities. This strong start under Yang Lu’s leadership, combined with our confidence in the disciplined investment process and the quality of stock selection, gives us conviction that the fund deserves a full Elite Rating.

Artemis US Extended Alpha

This strategy combines long positions in high-conviction US companies with carefully selected short positions, providing multiple sources of potential alpha rather than relying solely on market direction. The managers have demonstrated disciplined execution and a clear understanding of risk throughout varying market conditions. We are pleased to promote the fund to an Elite Rating.

Ninety One UK Special Situations

The managers’ disciplined bottom-up process, combined with their willingness to look beyond short-term market sentiment, has reinforced our confidence in the strategy’s long-term potential. The fund has remained true to its investment philosophy while navigating a difficult period for UK equities, and we believe the quality of both the team and process justify moving to an Elite Rating.

Royal London Corporate Bond

We have been impressed by the managers’ disciplined approach to credit selection, careful risk management and ability to generate attractive returns without stretching for yield. These qualities, combined with the depth of Royal London’s fixed income team, give us confidence that the fund deserves promotion to a full Elite Rating.

WS Zennor Japan Equity Income

Our conviction in WS Zennor Japan Equity Income has continued to grow since it was initially awarded an Elite Radar. The managers have demonstrated that their differentiated approach to Japanese equity income can deliver attractive long-term results, without sacrificing quality. Since launch, the fund has returned 75%, compared with 59.08% for the IA Japan sector**, providing further evidence that the investment process is delivering for investors. With a strong track record now in place, we now believe the fund has earned its place among our Elite Rated funds.

One fund moves from Elite Rated to Elite Radar

BlackRock European Absolute Alpha

We’ve taken the decision to move this fund from Elite Rated to Elite Radar following a change in lead manager. In March 2026, Tom Lemaigre assumed responsibility for the strategy following the departures of Stefan Gries and Stephanie Bothwell. While we continue to have confidence in the investment process and believe Tom brings considerable experience to the role, we would like to see a longer live track record under his stewardship. Moving the fund to Elite Radar reflects this period of monitoring.

*Source: FE Analytics, total returns in pounds sterling, 1 July 2023 to 24 July 2026
**Source: FE Analytics, total returns in pounds sterling, 24 April 2023 to 27 July 2026