Square Mile downgrades Columbia Threadneedle UK Social Bond on manager's departure

As part of its latest Academy of Funds review, Square Mile analysts downgraded the fund despite acknowledging that "many of the strategy's strengths remain", citing the importance of Bond's role as "key architect". Analysts also noted concern over the firm's ongoing integration of the BMO GAM business, which could result in further team changes. Somerset Capital Management Global Emerging Markets fund lost its AA rating in the review, with analysts referencing "challenges over recent years which had resulted in lacklustre returns" leading to its conviction in the fund falling. This wa...