S&P places two RARE funds 'on hold'
Standard & Poor’s Fund Services (S&P) placed the RARE Infrastructure Value Fund and the RARE Series Emerging Markets Fund ‘on hold’, following the resignation of three analysts.
Sarah Shaw, Tim Humphreys and Jonathan Reyes have left the company and will be joining its competitor in global listed infrastructure investing, AMP Capital.
The manager has informed S&P that it has agreed to a transition period with Shaw and Reyes, who will remain with the company for another three months, while Humphreys has a one-month notice period.
Charles Hamieh, Shane Hurst and Ann Chau will join RARE Infrastructure in July, with another appointment soon to be announced.
S&P Fund Services analyst, Simone Arblaster, says the departures of the three analysts are a loss to the team, which will affect both funds.
“Although new appointments appear solid, we believe it is appropriate to give them time to settle into their new roles before reviewing the fund,” said Arblaster.
“We have placed the funds ‘on hold’ and will review them again as part of the upcoming infrastructure sector review,” she added.
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