In its monthly review no funds lost their ratings, while six reached the standards required to be added to the list.
Three global equity income funds were added to the list, which are offered by fund houses Threadneedle, Lazard and Invesco Perpetual.
Meanwhile, Baillie Gifford European and Liontrust European Growth were the two European funds that did enough to make the monthly cut.
The final addition was Franklin Templeton’s Emerging Market Smaller Companies fund.
Rayner Spencer Mills reviews funds across the main IMA sectors and currently has around 260 on its list.
They are monitored on an ongoing basis and reviewed formerly each quarter. The company said the funds undergo a quantitative and qualitative screening to arrive at a rating that reflects a forward-looking view about the future performance of the funds.
Under the quantitative screening the funds are compared against set benchmarks in their peer group in a number of areas. These are: performance, volatility, TER and fund size.
The qualitative screening is then done to provide a more detailed account of how each fund operates, by looking at: the fund management’s background, fund philosphy, fund management process, risk controls, manager resources, monitoring process and information sources.
