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.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.