S&P review sparks 13 fund downgrades

The review covered 80 funds - 65 UK mainstream and 15 smaller companies - and considered performance data up to and including June 2007. No funds 'gatecrashed' the top tier AAA group, but all those previously rated AAA retained their status, with the exception of Cazenove's UK Equity fund and UK Growth and Income fund, which were both downgraded to an AA rating. Amongst the AAA rated funds were New Star's UK Growth fund run by Stephen Whittaker, and the M&G Recovery Fund, run by Tom Dobell. In the smaller companies sector, Old Mutual retained its AAA rating for both its Select ...