Morningstar OBSR reinstates Standard Life Gars fund rating

The £13.1bn Standard Life Global Absolute Return Strategies fund has had its bronze rating reinstated by Morningstar OBSR after it was placed under review in September.

The fund had been placed under review after the departures of David Miller, David Jubb and Richard Batty from the multi-asset team to Invesco Perpetual.

“We are now reassured that the team, under the continued leadership of Euan Munro and Guy Stern, remain focused on the successful management of the fund and that they have taken positive steps to strengthen the team who manage the Gars fund,” reports Morningstar OBSR.

The fund rating agency has also awarded the Standard Life Higher Income fund a Bronze rating after it, too, was placed under review earlier this year.

The fund previously held an A-rating – the equivalent of a Bronze rating under its former classification system – after the asset manager announced that DavidEnnett would replace Arthur Milson as lead manager of the fund.

The ratings agency reports: “Following our subsequent meetings with the new manager, we believe a Bronze rating is a fair reflection of the team’s ability to deliver an attractive outcome over the longer term.”