S&P maintains rating on AMP Capital Investors fund
Ratings house Standard & Poor's Fund Services has affirmed its three-star rating on the AMP Capital Investors Responsible Investment Leaders (RIL) International Share Fund following a recent restructure.
The ratings house said the affirmation recognised the manager's level of resourcing within the responsible investment sector and the fund's track record, despite a significant number of changes related to the fund's management.
The S&P analysis referenced the recent restructure, which had seen the head of the multi-manager team, Tanya Debakhapouve, appointed as co-portfolio manager for all AMP Capital Investors multi-manager equities funds where she is in charge of portfolio construction and investment strategy.
It said the former portfolio manager of the fund, Sally Boone, would on her return from parental leave become co-portfolio manager responsible for manager research and monitoring.
"While we are concerned by the frequent change this fund has experienced at the portfolio manager level, in our opinion, the latest changes should benefit the fund," the analysis said.
"Despite recent departures within the investment team, the manager's level of resourcing remains adequate."
However it said that given the numerous changes, in order to retain or increase S&P's level of conviction, a period of stability would be needed.
AUTHOR
Staff Writer
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
