07 Jul 2026
RSMR fund ratings are more than just a badge of quality — they represent trust, due diligence, and a reputation built on rigorous research and expert analysis. Every month we study the universe of funds in the investment marketplace to assess whether they meet our exacting standards and should be given the RSMR seal of approval.
Here are the new rated funds from our June review:
The M&G Europe ex UK Fund is a European equity strategy that seeks to outperform the FTSE Europe ex UK Index over a three-to-five-year period through a distinctly value-oriented approach. Managed by M&G’s experienced Value Team, the fund invests in European companies that the managers believe are trading below their intrinsic worth, often focusing on fundamentally sound businesses that are currently out of favour with the market. The portfolio is diversified across 50 to 80 holdings and is built with a long-term investment horizon, reflecting the team’s belief that it can take time for company valuations to recover and for underlying business fundamentals to be fully recognised by investors.
The investment process begins with a quantitative screen of European companies with market capitalisations above €1 billion, ranking stocks on valuation measures to identify potentially mispriced opportunities. These candidates are then subjected to detailed fundamental analysis, focusing on financial strength, business quality, and management capability, supported by M&G’s central research team. Portfolio construction is driven by stock selection rather than benchmark considerations, resulting in a portfolio with a strong value bias, high active share, and relatively low turnover. RSMR rates the fund because of its experienced and well-resourced investment team, its disciplined and repeatable process, and its clear alignment between philosophy and implementation. The combination of rigorous research, defined risk controls and a patient approach to value investing provides confidence that the strategy can identify attractive long-term opportunities while offering investors differentiated exposure to European equities.
Click here to read the factsheet for the M&G European ex UK fund
The Ninety One Emerging Markets Equity Fund is a diversified, style agnostic emerging markets strategy that aims to deliver long term returns primarily through stock selection rather than country, sector, or style positioning. Investing across a broad range of emerging market companies, the fund typically holds between 70 and 90 stocks and seeks to identify businesses whose share prices do not fully reflect their future prospects. The approach is based on the belief that emerging markets remain less efficient than developed markets, creating opportunities for active managers to exploit behavioural biases and market mispricing.
The investment process combines fundamental research with Ninety One’s proprietary 4Factor framework, which assesses companies based on quality, value, operating performance, and investor attention. A machine learning model is used to screen and rank the investment universe, helping the team focus research efforts on the most attractive opportunities, while ensuring investment decisions remain driven by fundamental analysis and human judgement. Portfolio construction is deliberately diversified, with risk controls applied at stock, sector, and country level to ensure returns are driven predominantly by individual company selection. RSMR rates the fund because of its clear and repeatable investment philosophy, robust integration of quantitative and fundamental research, diversified and disciplined portfolio construction, and the depth of experience within Ninety One’s emerging markets team. The strong risk management framework and consistent focus on stock specific opportunities provide further confidence that the strategy can deliver attractive outcomes across a range of market environments.
Click here to read the factsheet for the Ninety One Emerging Markets Equity fund
The Thornburg Equity Income Builder’s investment objective is to provide income, long-term income growth and capital appreciation. The fund managers seek to deliver this through a portfolio of between 50 and 70 high quality globally diverse dividend-paying companies which are generally held for the long term. The significant team resource, which is based in Santa Fe, at Thornburg manage the Equity Income Builder strategy with a consistent value/contrarian orientated investment approach, based very much on bottom up analysis rather than with significant top down input. The leads to a differentiated portfolio and investment outcome, which provides investors with a diversified return profile versus the global equity income cohort. Historically the fund has exhibited lower Beta characteristics when compared to global equity indices and provided an element of market downside protection when compared with peers.
The investment process is built on a disciplined, rigorous research process with a focus on identifying companies with strong cash flows and financial stability meaning that these businesses have both the ability and willingness to pay and most importantly grow their dividends in real terms over time. The process is highly active and flexible, blending lower yielding faster growing dividend payers and higher yielding positions, with the resultant portfolio geographically and sectorial unconstrained by benchmarks, allowing the experienced fund managers to seek out the best income and growth opportunities across global equity markets.
Click here to read the factsheet for the Thornburg Equity Income Builder (Offshore) fund
The Waverton European Dividend Growth fund aims to generate income and long-term capital growth by investing in a diversified long-only portfolio of European stocks. It uses the same underlying investment philosophy and process as the RSMR European Fund of the Year for 2025, Waverton European Capital Growth. Both funds seek to identify companies that are benefitting from positive changes in earnings that are yet to be recognised by the wider market, delivering value to shareholders and benefitting from structural change.
The team do this through analysing the capital cycle, with a focus on understanding supply dynamics within different industries. The key difference between the two funds is that Dividend Growth places a higher emphasis on companies who pay a dividend and are likely to grow that dividend over time. RSMR know the team behind the funds well, with the managers having featured as speakers at our Leeds Investment Conference several times. The team have a deep understanding of European markets and have a long and successful track record of investing in the region. Waverton European Dividend Growth represents a compelling and differentiated offering for investors seeking a stable and growing natural income stream from an underlying portfolio of high quality European businesses.
Click here to read the factsheet for the Waverton European Dividend Growth (Offshore) fund
The Capital Group UK Investment Company of America fund is an onshore variant of the previously rated Capital Group Investment Company of America (LUX).
Click here to read the factsheet for the Capital Group UK Investment Company of America fund
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The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.