Artemis UK Special Situations and GAM Star Japan Leaders funds have retained their A ratings following the departure of major managers, according to the latest Square Mile Academy of Funds.

The Artemis fund lost co-manager Derek Stuart, who had managed the fund since inception, and while Square Mile analysts described the departure as a "material loss of experience", they noted that co-manager Andy Gray is set to remain in post.

Analysts added that Henry Flockhart, former Aviva and abrdn manager, had joined the fund in July as part of transition plans.

Artemis co-founder steps away from fund management

GAM Star Japan Leaders will lose its co-manager Reiko Mito at the end of this month in an unexpected move, but Square Mile analysts believe lead manager and "architect" of the fund Ernst Glanzmann, supported by investment manager Luka Knueppel, will continue to hold the fort.

Both funds retain an A rating.

Royal London UK All Share Tracker retained its Recommended rating following the merger of the fund into Royal London UK Broad Equity Tilt, despite the increased tracking error of the fund, which was described as "within a reasonable range".

Analysts said the merger was a "sensible step" given declining assets and will transfer the Recommended rating to the merged product when complete.

Columbia Threadneedle retained seven ratings across its range following the renaming of funds, which have adopted a "CT" prefix over the former "Threadneedle", as this has not impacted investment approach.

Martin Currie hires GAM's Reiko Mito as Hideo Shiozumi steps back

Jonathan Golan's Man GLG Sterling Corporate Bond has been awarded the Positive Prospect rating for the fund's "edge" in bottom-up investing and the team's "ability to extract alpha from undervalued credits".

Both HSBC FTSE All World and the five-strong abrdn fixed income range have achieved Recommended ratings, with the passive teams of both houses held in high regard by Square Mile.

They were also praised for competitive pricing and successful tracking.

PIMCO Select UK Income Bond lost its A rating following a "challenging period" over recent years, coupled with a "sizeable decline" in assets.

Analysts said they no longer hold sufficient conviction in the fund to justify the rating, but suggested other strategies within PIMCO's fixed income range could be of benefit to investors.