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.
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.
