OBSR removes ratings of two funds
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Old Broad Street Research (OBSR) has removed the ratings of the Swip Pan European Smaller Companies fund and the GLG American Growth fund and has removed them from the ratings service.
OBSR suspended the A rating of the Swip Pan European Smaller Companies fund after Rory Hammerson, the manager, left the group. Following a meeting with Kathleen Dewandeleer and Catie Wearmouth, the new co-managers, OBSR decided to remove the rating.
Although the pair run the fund using an approach and process which remain relatively unchanged, OBSR says they do not have their own track record as co-managers. (article continues below)
The GLG American Growth fund, which also previously held an A rating, lost this because OBSR does not have enough conviction in the fund’s multi-strategy structure. Using this approach, Komal Sri-Kumar, the manager, has not been able to add value versus the benchmark, OBSR says.
Meanwhile, the Martin Currie Investment Funds Asia Pacific fund was downgraded to an A rating, having previously held an AA rating.
