Platinum fund loses manager and four-star rating
The departure of Platinum Investment Management’s portfolio manager has led ratings house Standard and Poor’s (S&P) to drop the Platinum European Fund’s four-star rating and place it 'on hold'.
The fund’s rating is now in question following Toby Harrop’s exit from the company, a founding member of Platinum.
“As one of the founding members of Platinum, S&P considers [Harrop] to be a deeply experienced individual. The fund’s four-star rating is a reflection of S&P’s high regard for the portfolio manager,” said Leanne Fook, S&P Fund Services analyst.
The fund will be remain ‘on hold’ until S&P is able to meet with Harrop’s replacement, Clay Smolinski, who has worked directly under Harrop since joining Platinum in 2005.
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