InvestorWeb reserves view on Rothschild deal
Research house InvestorWeb has place a notice stating that allRothschildfunds were ‘under review’ after the group’s recent announcement that it would merge its funds management business withWestpac.
“Although we are admirers of the group’s (Rothschild) sound management abilities across a number of asset classes, we do not feel it is appropriate for us to recommend the funds until we meet with Rothschild and discuss the terms of the alliance further,” InvestorWeb says.
Interestingly, the joint venture betweenANZandINGwhich was announced only a few weeks before, has been assessed by InvestorWeb as “not greatly impacting the management of the ING Funds Management products but will result in the ANZ Funds Management products now being managed by ING Investment Management.” As a result, InvestorWeb says, there will be no change to its rating of ING funds.
In its other fund ratings, as part of it’s regular monthly review, InvestorWeb downgraded theColonialFuture Leaders Fund to a ‘strong buy’ because of its fund size becoming very large, whileIOOF’sFixed Interest Fund was upgraded to the same, as InvestorWeb felt the fund had a disciplined process and outstanding performance.
In other news,Zurich’sProperty Securities Fund has retained its ‘exceptional buy’ rating following Deutsche’s takeover of Scudder Investments because InvestorWeb says the team at Deutsche will remain intact and the process will be unaltered.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
