UBS US Growth fund rating suspended

Morningstar OBSR has suspended the Bronze rating awarded to the UBS US Growth fund following the departure of fund manager Lawrence Kemp.

The departure was announced earlier this week, with Kemp deciding to leave the asset manager after 20 years.

UBS Global Asset Management revealed Sam Console and Peter Bye would be taking over management of the £128.8m UBS US Growth fund.

“We will be meeting with the new managers in the near future to discuss the new structure and their plans for the fund,” a Morningstar OBSR spokesperson says.

The fund had received the Bronze rating in April, earlier this year, with Morningstar OBSR lauding Kemp’s “well-considered approach” to investment

Bestinvest also suspended its four star rating and removed the fund from its Premier Selection list.