Rayner Spencer Mills Research has added five new funds to its rated fund list following its regular monthly review.
No funds were removed last month but both M&G Managed Growth and Schroder Global Equity Income have been placed under review due to a change in fund manager.
Geoff Mills, group director at RSMR, said the total number of rated funds was now at 317.
The new funds are:

· BlackRock Asia
· JOHCM Asia Ex Japan
· Investec Emerging Markets Equity
· Martin Currie Japan Alpha
· Ignis European Smaller Companies.

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Mr Mills said: "Invesco Perpetual Global Equity Income has also been reinstated as a rated fund. This fund was placed under review in March due to a change in fund manager.
"However following a series of discussions with the new team and thorough research of the fund's process and strategy, we are happy to restore this rating."
Ken Rayner, RSMR's group investment director, added: "We constantly monitor the markets for changes that may impact on our selection.
"Each review starts with consideratin of the whole IMA sector, and then narrows down to our fund list using a series of both quantitative and qualitative measures.
"Due to M&G Managed Growth's and Schroder Global Equity Income's change in manager, we will be carefully reviewing these funds to ascertain the impact these new appointments will have upon the funds' management and to ensure that these funds still meet the requirements to gain the RSMR rating."