S&P's and Forsyth in widespread downgrade of US funds

Last year's strong US equity market rises after March caught out many fund managers unsure whether it was another false dawn. As a result, short-term market timers and long-term contrarian investors performed well and this has led rating agencies Standard & Poor's and Forsyth-OBSR to cut many leading managers' rankings and increase only a select few. The latest review of US funds has led to three Forsyth-OBSR rating downgrades and has also seen two ratings withdrawn while upgrading only one fund. S&P, however, has upgraded three fund managers and cut two in its review of the North America...