Market volatility in the past year has resulted in a shake-up of the Investment Adviser 100 Club, with JPMorgan Asset Management (JPMAM) dominating the 2015 list with the most member funds.
The Investment Adviser 100 Club is reviewed annually and aims to highlight the best funds and investment trusts available to intermediaries by analysing short- and long-term performances alongside other criteria.
JPMAM leads the 2015 list with seven member funds – up from four last year – including the returning JPMorgan Emerging Markets investment trust, which last appeared in 2013.
The higher number of member funds across both equity and bond sectors means the firm has secured its place in the Large Investment Group category for the third year running.
Baillie Gifford has also continued its strong run in the 100 Club with four memberships – up from three last year – all of which have returned, while the Baillie Gifford Corporate Bond fund last appeared in 2013.
The three other fund houses in the Large Investment Group category – Axa Investment Managers, Fidelity Worldwide Investment and Franklin Templeton – are all new entrants to the group categories.
The firms hold four memberships each, as market volatility and macro concerns affecting regional equities and bond sectors widened the field. The trio boasted just one member fund apiece last year.
Standard Life Investments, which last year won the Large Investment Group category, failed to make the group sector this year, although its flagship SLI Global Absolute Return Strategies fund makes an appearance in the Absolute Return category for the first time since 2013.
Meanwhile, Henderson Global Investors, which last year dominated the 100 Club list, has seen its membership halve from six to three. However, the inclusion of stalwarts such as its UK Absolute Return and Global Growth vehicles makes it eligible for the Small to Mid Investment Group category, marking its group status for the fourth year in a row.
Old Mutual Global Investors is also a returning group member with three memberships, including the Old Mutual UK Equity Income and Old Mutual North American Equity funds.
The Small to Mid Investment Group also sees Jupiter Asset Management return for the first time since 2012 as its memberships increased to three in 2015, up from two last year.
Following last year’s change in the way groups are assessed, for the purposes of the 100 Club, a large investment manager is defined as one with at least £100bn in global assets, including the assets of its parent group.
Other casualties in the membership shake-up are Invesco Perpetual, Threadneedle Investments and Premier Asset Management, who all miss out on the group categories, although between them they account for five memberships.
A panel of fund selection experts – due to be announced shortly – will decide which is the best fund or group within each category.
The winners will be announced at the 100 Club Awards on October 22 2015.
The 100 Club is a fully RDR-ready tool for intermediaries, as it pits open-ended and closed-ended funds together within categories and highlights the best passive fund providers. The calculation process is based on funds’ total returns across one and five years relative to the total returns of a broadly relevant benchmark, index or sector.
The data source was FE Analytics, and all performance figures quoted are bid-to-bid and rebased in sterling where currencies differed. The performance figures range to May 31 2015.
For more information and details about the awards night, contact Danielle Jones at danielle.jones@ft.com.
The full selection criteria is available at ia100.ftadviser.com.
