S&P grows step by step
Standard& Poor’s (S&P) has bolstered its fledgling fund ratings team to research non-traditional areas of the managed investments arena such as mortgage trusts, multi-managers and high-yield fixed interest.
The group, which kicked-off its manager ratings business 12 months ago followed by a research service for dealer groups three months ago, has added two new analysts to its team in Melbourne.
Former Garrisons Financial Planning senior research analyst Lyn Stanton and recent graduate Evan Davey join as a fund analyst and research assistant respectively. Their appointments cement S&P’s plans to build a bigger presence in the retail manager rating market, according to director of investor serives Mark Hoven.
Hoven says the group is continuing its aim of growing steadily and that the latest appointments will only be added to once the business moves to its next phase of development.
“We will sit where we are for now. S&P has a very conservative business manner and doesn’t leap into anything on a prayer.
“That’s what we’ve been about over the past 12 months. We’ve been slowly plugging away in this market with a small core team to establish a footprint and we believe that print is of a size now to justify the new additions,” Hoven says.
Since launching last year, the group has focused on research on Australian and International fixed interest and equities.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
