Ninety One UK Alpha has been ejected from Interactive Investor’s (II) Super 60 rated list due to fund manager Simon Brazier’s (pictured) decision to exit the firm at the end of May.
Brazier has managed the £1bn equity strategy since 2015, before being joined by co-manager Anna Farmbrough in July 2022.
At the end of March, Ben Needham stepped up to manage the fund alongside Farmbrough.
Dzmitry Lipski, II head of funds research, said: “Brazier’s experience and track record were key reasons why the fund was recommended for the Super 60.”
“The fund was placed under review upon the announcement of Brazier’s departure in February 2023 and the decision has now been taken to remove the fund. We will be looking to find a suitable replacement for the fund in due course,” he added.
The news follows a similar move from Square Mile, which dropped the strategy from its Academy of Funds in March.
At the time, Square Mile said: “While analysts acknowledge Ms Farmbrough’s continued association on the strategy, the fund’s A rating was predicated on Mr Brazier’s involvement as the architect of the approach. Therefore, the analysts believe that removing the fund’s rating to be the most appropriate action while they monitor how the strategy is managed by Ms Farmbrough and Mr Needham in future.”
Over the last year, the fund returned 4.5%, compared to the IA UK All Companies sector which was up 1.1%.
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