The move comes after a sustained period of underperformance, down 11.7% year-to-date, according to data from Morningstar.
Consequently, the fund has had its rating slashed from Above Average to Average.
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The competitive positioning of Train’s fund has diminished, according to Morningstar, partly due to its “permanent overweight position on Japan and the UK”.
Investment philosophy also has played a key role in this decision, as there is evidence of the fund is “lacking selling discipline” and retainin…
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