Threadneedle American fund rating reinstated

The Threadneedle American fund has been reinstated to the Old Broad Street Research (OBSR) rating service with a lower rating.

Cormac Weldon
Cormac Weldon

OBSR has awarded the fund a single A rating – having previously held an “AA” rating – following the appointment of Cormac Weldon as manager earlier this year.

Weldon was appointed to the fund after the departure of former manager Andrew Holliman.

A spokesman says: “We hold Mr Weldon in high regard, but his management style has typically been associated with a more focused portfolio, namely the AA Rated Threadneedle American Select fund.

“We therefore believe an A Rating to be appropriate at the present time for this more diversified, benchmark-aware offering.”

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