Summer 2025: the funds gaining and losing their Elite Ratings

Following our summer investment committee meeting, FundCalibre has made several changes to our Elite Ratings. Four funds have been newly awarded an Elite Rating, while three funds have been added to our Elite Radar. Additionally, one fund has moved from Radar to Rated. Finally, we have removed eight funds from our ratings. 

Four funds gain Elite Ratings

Brunner Investment Trust — Brunner Investment Trust is an all-weather global equity portfolio aiming to deliver both long-term capital growth and dividend growth. Managed by a quartet of experienced investors since 2022, the 40–60 stock portfolio strikes a balance between quality, growth and value factors. This diversified approach differentiates it from many global peers. Brunner has also raised its dividend for 53 consecutive years, making it a strong candidate as a core global equity holding.

Chikara Indian Subcontinent — This high-conviction, index-agnostic fund invests in quality mid and large-cap companies benefiting from India’s structural growth story. The managers focus on sectors with strong long-term prospects and place a premium on governance and shareholder alignment. With a robust, repeatable process and a high active-share portfolio, the strategy is well placed to deliver compelling returns from one of the world’s fastest-growing economies.

Janus Henderson Global Financials — Led by the experienced John Jordan, this concentrated fund targets attractively-valued financial services businesses worldwide. The team seeks out companies with both cyclical and secular growth potential, producing a 40–60 stock portfolio. With its disciplined, research-driven approach, the fund has consistently outperformed its benchmark and offers investors a differentiated way to tap into the global financials sector.

TM Gravis UK Listed Property — This strategy provides investors access to UK-listed property within a liquid structure, avoiding some of the pitfalls that have challenged open-ended property funds. It aims to deliver a healthy and sustainable dividend while maintaining defensive characteristics. With an experienced team at the helm, the fund benefits from thematic real estate trends and offers diversification thanks to its low correlation with equities and bonds.

Three funds join our Elite Radar

Man Asia (ex Japan) Equity — Managed by one of the most experienced Asian equity investors, this concentrated 35–45 stock fund looks to capture turning points in company earnings revisions. The style-agnostic approach blends top-down and bottom-up analysis, giving the manager both conviction and flexibility. Despite headwinds in the region since 2020, performance has been impressive, and the process has proven highly effective since launch.

Allianz Global Hi-Tech Growth — A global multi-cap technology fund targeting high-growth businesses with proven models. The strategy avoids speculative or unproven ideas, instead balancing exposure across mega-cap leaders and emerging players. We’re particularly excited by the arrival of Jeremy Gleeson —previously an Elite Rated manager at AXA — who brings significant experience to this new fund.

Wellington Credit Total Return — An unconstrained global credit strategy investing across the full spectrum of corporate bonds, high yield, emerging market debt and Treasuries. With no benchmark ties, the team can dynamically adjust allocations as market conditions evolve. This flexibility provides both offensive and defensive qualities, making the fund well suited to today’s fast-moving credit markets.

One fund moves from Elite Radar to Elite Rated

Man Dynamic Income — With a near-perfect AlphaQuest score and three years of performance under its belt as of June, this income strategy has made a strong case for elevation. The fund has quickly established itself as a high-quality option for income-seeking investors.

The eight funds losing their Ratings

abrdn Global Smaller Companies — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating.

FTF Martin Currie US Unconstrained — The manager now has a track record of more than five years, but the fund has failed to pass AlphaQuest to move to an Elite Rating. It therefore loses its Elite Radar badge.

IFSL Marlborough Multi Cap Income — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating. Read more about this decision in our 2025 Performance Report.

Invesco Global Focus — The fund is undergoing both manager and process changes, creating uncertainty around its future direction. Given the lack of clarity and conviction in the new approach, it has been removed from our Radar.

Jupiter Financial Opportunities — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating. Read more about this decision in our 2025 Performance Report.

Slater Growth — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating.

SVM UK Opportunities — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating.

T. Rowe Price Asian Opportunities — The fund has had a deteriorating AlphaQuest score and no longer passes our minimum threshold. Therefore, the team had to make the decision that it should lose its Elite Rating.