Bumper shake-up in latest FE Invest Approved List rebalance with removal of long-term constituents

Stewart Investors among casualties in latest reshuffle

Turnover was significantly high in the latest biannual reshuffle of the FE Invest Approved List at 21.5%, while a number of long-time members were removed, including Stewart Investors' £2.3bn Global Emerging Markets Leaders fund.

This comes just six months after the group saw its £7.2bn Asia Pacific Leaders fund get the boot in the reshuffle, that took place in April. Charles Younes, FE research manager, said the team had become concerned about the GEM Leaders fund, following the "significant style shift," and because it had been soft closed since 2013, which further raised concerns about capacity. Managed by Ashish Swarup and Tom Prew, it is just one of 20 names to leave following the shake-up, which this time round was focused on helping investors protect capital from unpredictable markets and to increase po...