First State’s Indian market specialist Vinay Agarwal has jumped to sixth place in the Citywire table of over 3000 Europe-wide fund managers, and tops the Scottish league table for the sixth month in a row.
Mr Agarwal, manager of the First State Indian Subcontinent fund heads The Herald’s table which ranks managers in houses with a significant Scottish presence.
The latest rankings are based on the managers’ three-year performance to the end of what was to be the highly turbulent month of June 2016. Such was the fall-out from the market volatility that only three managers achieved the coveted AAA rating from Citywire, compared with nine the previous month and at times15 last year.
Only 20 managers were AA or A rated against 52 the previous month, and Standard Life Investments lost eight of its 15 Citywire-rated managers from the rankings. Baillie Gifford (nine) and Artemis (eight) lost three apiece.
Only three Scottish managers were ranked in the top 400 places, and UK-focused managers saw their overall positions fall sharply.
Only 10 managers joined the list while 33 were relegated due to sub-standard performance, including the likes of SLI’s Jacqueline Lowe, a previous Scottish table-topper currently down at 7594 in the big league.
Top 10 regular Audrey Ryan at Kames Capital slid almost 2000 places from 230 to 2209, while Iain Wells and Douglas Scott, co-managers on Kames Capital's UK Equity Income fund, ranked fourth and fifth a month earlier, saw their rankings slide by over 730 places to 915 and 916 respectively.
Leader Mr Agarwal however improved his position from 15 to six, as did Sashi Reddy, manager at the Stewart Investor Asia Pacific Sustainability fund, up from 129 to 111 and in second place in the Scottish table.
The only other AAA-rated manager this time is Richard Jones, manager on the First State Asian Equity and Indian Subcontinent funds, who jumps from tenth to third in the table, his overall position improving from 290 to 268.
Ben Russon, who co-manages four UK equity and equity income funds at Franklin Templeton, saw his ranking plummet from 58 to 408, but slips only two places to fourth, just ahead of Andrew Greenup at First State.
Mr Greenup runs the house’s global listed infrastructure fund, demonstrating how market conditions are favouring certain asset classes.
He is followed by Mr Russon’s UK funds colleagues Colin Morton on 450, and Mark Hall on 469 , but then comes another top 10 newcomer Mark Urquhart, manager of the Baillie Gifford Long Term Global Growth fund, up from 656 to 581.
Despite losing a few places in the rankings, First State’s Asian specialist David Gait is back in the top 10 after a brief absence. That list is completed by newcomer Ralph Bassett, manager of three North American funds at Aberdeen Asset Management, who became eligible for the first time and bagged a AA rating.
Biggest riser in the rankings was Francis Seymour, who runs the McInroy & Wood Emerging Markets fund, up from 7630 to 2339.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here