The Credit Suisse Income and Monthly Income funds have been downgraded from AAA to AA by Forsyth-OBS...
The Credit Suisse Income and Monthly Income funds have been downgraded from AAA to AA by Forsyth-OBSR after Bill Mott stepped down as lead manager earlier this month.
The ratings agency said while it is confident in former deputy manager Leigh Harrison's ability to maintain superior performance of the funds, it needs to see evidence of sustained outperformance before considering an AAA rating.
Elsewhere, OBSR has withdrawn the suspended A rating on SocGen UK Income after Malcolm Murray took over management from Adrian Gosden and Nicola Horlick. Horlick has stepped back from her UK operational responsibilities while Gosden has moved to Artemis.
HSBC UK Growth & Income has had its rating reinstated at AA, after the previous AAA rating was suspended when manager Tim Russell left for Cazenove late last year. OBSR said new manager Bob Morris has delivered steady returns since taking over.
Artemis High Income has been awarded an A rating in recognition of manager Adrian Frost's ability to invest in corporate bonds and convertibles as well as equities after taking the helm in September 2002.
Fidelity South East Asia has had its AA rating withdrawn after Allan Liu took over management from KC Lee in June.
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