management changes affect more than a few forsyth-obsr ratings
Forsyth-OBSR has withdrawn the suspended A rating on SocGen UK Income after Malcolm Murray took over management from Adrian Gosden and Nicola Horlick.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 is set to move to Artemis.
Elsewhere, the Credit Suisse Income and Monthly Income funds have been downgraded from AAA to AA by OBSR after Bill Mott stepped down as lead manager last 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.
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.
Rathbone Income and Schroder UK Alpha Plus have been upgraded from A to AA due to strong performance.
Fidelity South East Asia has had its AA rating withdrawn after Allan Liu took over management from KC Lee in June, as Liu is expected to make significant changes to the fund and the way it is managed.
OBSR also withdrew the A rating on Schroder Global Bond after three key members of the Schroder fixed interest team left for Insight in June and ahead of a change in mandate from government to corporate bonds.
The agency also awarded A ratings to DWS UK Opportunities, SVM UK Opportunities and Isis Strategic Bond.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week