France’s newly-rated fund manager elite revealed

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Recent economic news and data coming out of the country haven’t been as favourable as recent months with fears rife that France may slip back into recession.

With that in mind, there are only four managers who have entered the French ratings this month.  

Among them is Karsten Rosenkilde, who is the highest entrant to the ratings this month. The DWS fixed income specialist is lead manager on the DWS Invest Euro Corporate Bonds fund.

Danish-born Rosenkilde has been managing this mandate since June 2009 and returned 33.17% to his investors over this period. It is his risk-adjusted performance which has seen Rosenkilde awarded his first ever French rating, as he is now A rated.

Looking at his performance over the past three years, this return falls slightly to 21.62%, but it remains ahead of his Citywire benchmark, the Markit iBoxx Euro Corporates index, which rose 19.7% over this period.

The main driver of the fund’s performance over this period appears to be drawn from the fund’s exposure to countries not using the euro.

Almost 15% of the fund is invested in euro-denominated US bonds, with a further 9% invested in UK gilts.

Also entering the ratings this month are bond managers Luca Pagni of BNP Paribas, Stuart Edwards from Invesco Perpetual and European equity specialist Martin Skanberg of Schroders. All of whom enter with an A rating.

Elsewhere in the round-up, we find Parus Shah, who has jumped another notch in the ratings.

Shah is lead manager on the Fidelity Funds - European Special Situation fund and has held an A rating since May this year.

In this time his risk-adjusted performance has steadily grown as he started out with an A rating and last month was AA rated.

This month, however, his risk-adjusted performance has reached a significant level and has now received AAA status.

In the group stakes Fidelity is well out in front with 21 rated managers, second is Threadneedle with 11 rated managers followed by Blackrock with 10.

In total we now track 2,862 managers running a total of 4,095 funds of which 2,044 of these managers have the necessary track record to warrant inclusion in our ratings. From this 287 ratings were awarded with 43 AAA, 78 AA and 166 A.