Austock fund ‘on-hold’
Ratings house Standard and Poor’s Fund Services (S&P) has placed the Austock Australian Equities Fund ‘on hold’ following the departure of a key portfolio manager, Silvio Gasparet.
S&P Fund Services analyst Anthony Karaminas said Gasparet played a pivotal role within the fund, with his experience and knowledge driving many aspects of the investment process and guiding a relatively small and junior team.
“The fund will remain ‘on hold’ until clarification surrounding replacement of staff has been finalised. S&P expects to be in a better position to determine the rating impact at this time,” he said.
The Austock Australian Equities Fund had a previous S&P rating of three stars.
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
