3 Funds For Your Stocks & Shares ISA

• Morningstar
Medalist
Rating:
Silver
• Morningstar
Category:
Global
Equity
Income

A
strong
option
in
the
Global
space
is M&G
Global
Dividend fund,
which
has
a
Morningstar
Analyst
Rating
of
Silver.
It
has
been
managed
by
an
experienced
investor
Stuart
Rhodes
since
July
2008.
Rhodes
has
navigated
the
strategy
well
through
different
stages
of
the
economic
cycle
and
adhered
to
his
investment
philosophy
and
convictions
when
facing
headwinds.
He
sometimes
goes
against
the
grain,
but
has
demonstrated
his
stock-picking
talent
over
time.
Owing
to
the
focus
on
dividend
growth,
the
portfolio’s
yield
is
typically
lower
than
for
peers
or
the
MSCI
World
High
Dividend
Yield
Index
while
also
displaying
a
milder
value
tilt
versus
competitors.
Rhodes
selects
a
compact
portfolio
of
40-50
stocks
through
bottom-up
fundamental
analysis
where
he
has
put
more
emphasis
on
financial
leverage
in
recent
years.
The
track
record
built
by
Rhodes
points
to
strong
total
returns,
beating
peers
and
the
index
by
a
comfortable
margin.

Lena
Tsymbaluk,
associate
director,
equity
fund
research

• Morningstar
Medalist
Rating:
Silver
• Morningstar
Category:
Global
Flexible
Bond
–
USD
Hedged

JPMorgan’s
Global
Bond
Opportunities
strategy
benefits
from
an
experienced
management
team,
the
firm’s
wider
resources,
and
a
flexible
and
nimble
investment
process.
JP
Morgan’s
global
fixed-income
chief
investment
officer
(CIO)
Bob
Michele
and
international
fixed-income
CIO
Iain
Stealey
co-manage
the
strategy,
backed
by
a
well-resourced
and
experienced
team,
including
three
comanagers.
The
strategy
aims
to
maximise
total
return
with
a
5%-10%
volatility
target,
which
allows
the
team
considerable
flexibility
in
investing
in
a
variety
of
sectors,
such
as
high-yield
and
investment-grade
corporates,
emerging
markets,
and
securitised
debt.
Over
the
years
the
managers
have
proven
their
ability
to
proactively
reduce
risk
and
modify
exposure
levels
in
market
stress
periods,
while
also
participating
in
the
upside
for
risk
assets
during
benign
markets.
The
strategy
has
outperformed
its
Morningstar
Global
Flexible
Category
peers
in
absolute
and
risk-adjusted
terms
since
its
inception
in
2012.

Macro
decisions
are
the
dominant
driver
of
the
process.
The
co-managers
and
sector
team
heads
debate
the
macro
environment
at
quarterly
meetings,
which
define
the
team’s
top-down
investment
road
map.
During
the
weekly
sector
team
meetings,
fundamental,
quantitative,
and
technical
research
inputs
are
generated
for
every
sector,
which
help
fine-tune
the
asset
allocation.
Sector
teams
play
a
vital
role
in
credit
selection.
The
strategy’s
broad
guidelines
include
a
75%
limit
to
high-yield
exposure,
a
sector
in
which
the
strategy
has
exhibited
a
heavy
bias
historically,
albeit
more
tempered
of
late.
Duration
can
range
between
negative
two
to
positive
eight
years,
but
in
practice
it
has
never
been
negative.

Evangelia
Gkeka,
senior
manager
research
analyst,
fixed
income

• Morningstar
Medalist
Rating:
Gold
• Morningstar
Category:
GBP
Allocation
60-80%
Equity

BNY
Mellon
Multi-Asset
Balanced’s
focus
is
delivering
competitive
performance
versus
the
Investment
Association’s
Mixed
Investment
40%-85%
Shares
sector.
Manager
Simon
Nichols
aims
to
achieve
this
primarily
through
security
selection,
with
asset
allocation
also
playing
a
role.
Our
increased
conviction
in
lead
manager
Simon
Nichols,
supported
by
Newton’s
multi-asset
team
and
broader
analytical
resources,
results
in
an
upgrade
in
our
People
Pillar
to
High
from
Above
Average.

Since
taking
over
in
January
2018,
Nichols
has
shifted
the
risk
profile
from
capital
protection,
to
positioning
that
is
more
peer
group-
and
benchmark-aware.
Under
his
management
the
allocation
to
equities
has
typically
been
in
the
range
of
70%-80%
with
bonds,
cash,
and
some
gold
making
up
the
balance.
Overall
asset
allocation
is
driven
by
Nichols
along
with
other
senior
members
of
the
multi-asset
team.
Fundamental
analysis
is
carried
out
by
Newton’s
research
analysts,
who
assess
securities
within
a
global
context
fitting
their
thematic
views.
We
think
Nichols
makes
effective
use
of
Newton’s
research
platform.
Despite
a
changing
market
backdrop,
he
has
been
able
to
generate
consistently
strong
relative
returns
since
taking
charge
of
the
fund.
Nichols
also
has
a
strong
track
record
on
longer-running
BNY
Mellon
Newton
Global
Balanced,
which
he
took
over
in
2013.

Tom
Mills,
senior
manager
research
analyst

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