S&P downgrades AMP Capital fund
Research house Standard & Poor’s Funds Services (S&P) has downgraded the AMP Capital Sustainable Share A fund to two stars after removing its ‘on hold’ rating.
Before it was placed ‘on hold’ due to a key personnel departure, the fund was rated as three stars. Commenting on the downgrade, S&P Fund Services James Gunn said the team’s separation of responsibilities between environmental, social, and governance, and fundamental research underpinned the importance of retaining investment professionals across both disciplines, “which the manager has struggled to do”.
“The individuals now responsible for fundamental research only have a moderate level of investment experience relative to peers and we believe the fund may continue to struggle to meet its investment objectives," Gunn said.
The downgrade came as the researcher released its ratings on the first four of 12 peer groups in its 2011 Australian Equities Large Cap sector review.
Recommended for you
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
Zenith Investment Partners has launched a range of new managed account portfolios over the past quarter, including on Insignia Financial’s Expand platform.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.