CFS leads cash peer group
Colonial First State has held pole position in its cash peer group following the affirmation of a five-star rating of its Wholesale Cash Fund by Standard & Poor’s. The announcement comes after S&P Fund Services released its ratings on Australian Fixed Interest – Cash and Cash Enhanced peer groups.
Aberdeen’s Cash Enhanced fund saw its rating upgraded to four stars making it the highest rated fund in that peer group. BT’s cash and cash enhanced funds were lowered to three stars from four stars. The fund had been placed on hold since November 2010 following the departure of senior portfolio manager, Scott Osbourne.
The Sandhurst Cash Common fund was also downgraded from three to two stars due to perceived amplified risks while new entrant Russell saw its cash enhanced offering awarded a three-star rating.
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