UK – Only two offshore funds have received a five-star rating from independent investment consultant Global Fund Analysis (GFA), with many funds plummeting down the ratings as a result of the technology stock blow-out.
Significantly, both of the five star funds, Campbell Global Assets Fund and GAMut Investments, are hedge funds.

“This is a departure from our normal practice of reporting on a single asset class. Our motivation for combining the issues was due to a dearth of trading funds with attractive three year track records,” says Simon Hopkins, managing director at Global Fund Analysis.
“2000 was a better year for most, but 1999 was generally the weakest period since 1994. Similarly, with global funds, which tended to have a good performance in 1998 and 1999, many were wrong footed by the plunge in technology stocks,” he adds.

GFA has also announced that its asset management affiliate, Fortune Asset Management, will now start to promote a series of fund of fund products drawing on the consultant’s research.
“We are offering an off the shelf solution for investors who wish to cost effectively participate in the multi-manager wealth management business. Alternatively we can fully customise a fund for a bank or asset manager at a higher entry level,” says Hopkins.

Global Fund Analysis publishes monthly research on top performing offshore funds, rating them in four categories: adviser group, investment process, performance history and risk management.