Global equities funds re-rated

Standard & Poor's has altered the ratings on five global equities portfolios, with funds from Gartmore, M&G, Jupiter, JO Hambro Investment Management and Axa all affected. The Johim Global fund is the only one to have been downgraded, from AA to A, with S&P citing Stuart Mitchell's departure as manager as the main reason for the downgrade. Despite finding Alex Pritchard, who has taken over the portfolio, to be an able stockpicker, the ratings agency said it is yet to be seen how this will benefit the fund. Gartmore Global Focus has been upgraded from AA to AAA because S&P is confident i...