Hendersons gets downgrade

Professional Adviser
clock

preference & bond fund marked down from aaa to A in S&P review of high income fund sector

The Henderson Preference & Bond fund has been downgraded from AAA to A in the latest review of the high income fund sector by Standard & Poor's. The research group said the reason for the downgrade was the departure of Ian Dickson, long time manager of the fund. Dresdner RCM Global Investors saw two of its funds slip from AA to A, despite the management moving to the group's sister manager Pimco, one of the US's largest fixed interest managers. As well as the downgrades for Dresdner's UK Gilt Fund and UK & European Gilt Yield funds, two of Newton's funds have been put under review with...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •