Baillie Gifford, J. P. Morgan and Rathbones have fallen out of the top 20 list of asset managers with the highest number of 5 Crown-rated funds in FE's latest bi-annual rebalance.
The previous reshuffle, which took place in July 2018, saw Baillie Gifford in joint second (after Schroders), JPM in joint third and Rathbones in fourth place respectively. However, none of the groups have made the top 20 just six months later. The FE team said Baillie Gifford's style, which currently has a strong bias towards technology disruptors, was impacted in last year's volatility. Tanvi Kandlur, senior fund analyst, added: "Funds with a growth bias got particularly caught out in the October sell-off, where those with a more value-based approach protected better on the downs...
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