The fab four

Only four investment funds that achieved S&P AAA status in 1995remain AAA-rated today. How did they achieve this feat?

Genesis Emerging Markets Ltd, Invesco Perpetual Income, Invesco Perpetual High Income and Orbis Global Equity funds have retained S&P AAA status for the last 15 years. Of these, two are managed by Invesco Perpetual’s Neil Woodford and one is team-driven with a different lead manager to when first rated. In percentage terms, four funds is sub-atomic compared to the number available and may come as a shock to many in the industry. But there are, at least, two prime reasons for this. The first is manager mobility, highlighted by the rather surprising statistic that less than 25% of funds ...