S&P announces decision to lower Mercury ratings

Standard & Poor's Fund Research has cut the ratings of the Mercury Emerging Markets and Hill Samuel Global Emerging Markets unit trusts. Mercury Emerging Markets' rating has been reduced from frAAA to frAA due to the fund's disappointing performance over the past two years. Over the three years to 28 June the fund is ranked 19 out of 30 in the global emerging markets sector on an offer to bid basis. During the period it fell by 13.1% compared to an average fall of 8.4%. Hans Hamre, global emerging markets analyst at Standard & Poor's, said that despite the poor performance, the Mercury ...