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Square Mile kicks pair of ASI UK equity funds to the curb in ratings overhaul
Tom Moore’s £800m UK Income Unconstrained fund culled in research house’s latest ratings decision
Square Mile has ejected a pair of Aberdeen Standard Investments UK equity funds, with £1.2bn between them, from its Academy of Funds after losing faith in their ability to turn performance around.
Tom Moore’s (pictured) £800m ASI UK Income Unconstrained Equity fund and the £370.9m UK Unconstrained Equity fund, run by Wesley McCoy and Lesley Duncan, were stripped of their A ratings in Square Mile’s January ratings round-up.
UK gets in on global M&A surge
(FILES) In this file photo taken on December 17, 2016 the G4S logo is seen on a sign at the entrance to HMP Birmingham in Winson Green, Birmingham, central England on December 17, 2016. - Bosses at British security giant G4S, which guards sites including prisons, offices and Covid test-centres, on December 9, 2020 backed a 3.8-billion takeover from US rival Allied Universal that trumps a bid from Canada s GardaWorld. (Photo by OLI SCARFF / AFP)
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Ben Dummett
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The U.K. is finally joining the global resurgence in mergers and acquisitions.
Pinned down by a brutal Covid-19 outbreak and the worst economic contraction in 300 years, U.K. merger activity slumped in the early summer from the year-earlier period as part of a broader decline amid virus-induced lockdowns. In Britain’s case, uncertainty over the outcome of the country’s complicated divorce from the European Union extended that weakness into early fall.