OBSR adjusts ratings of several funds
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Old Broad Street Research (OBSR) has made several changes to funds within its ratings service.
The firm has removed the suspended rating on Artemis UK Growth, reintroducing it to the service. The fund is now managed by Tim Steer, who joined Artemis in June 2009 from New Star. OBSR says following discussions with Steer, it has sufficient conviction to reapply its A rating.
GLG Technology has also moved back into the ratings service with an A rating. It was suspended following the announcement that Hugh Grieves had left Société Générale Asset Management and the management of the fund was transferring to GLG. (article continues below)
OBSR says it has met the new managers and is confident they have the ability to deliver solid returns to investors over the medium- to long-term. The fund will be invested in the broader technology media and communications sector, with the managers using a bottom-up approach.
Absolute Emerging Market Debt, Rensburg UK Mid Cap Growth Trust, and Schroders Corporate Bond all have new A ratings
The ratings service has removed the AA rating from Fidelity European, following Tim McCarron’s decision to take time out of the industry. The management of the fund has passed to Sam Morse, who will officially take over this month.
OBSR says Morse is new to the competitive European peer group and will be gradually positioning the fund to reflect his own style. The ratings agency says this is promising, but will continue to monitor the fund’s progress.
Meanwhile Absolute Emerging Market Debt, Rensburg UK Mid Cap Growth Trust, and Schroders Corporate Bond all have new A ratings.
Insight’s Colm McDonaugh has developed a process combining rigorous country-level analysis with relative and absolute value analysis to identify the most attractive investments in the broad emerging market debt universe, OBSR says.
OBSR says Paul Spencer, who re-joined Rensburg in 2006, is very experienced and his fund now warrants inclusion in the service.
Schroder Corporate Bond, run by Adam Cordery, aims to take an ‘all-weather’ approach, using broad guidelines to position the fund according to market conditions. OBSR says Cordery has proven his ability to do this since he took over the fund.
