S&P puts Hunter Hall funds 'on hold' following departure

25 November 2011
| By Keith Griffiths |
image
image
expand image

Following the departure of Jack Lowenstein, deputy CIO and senior portfolio manager, Standard & Poor's Fund Services placed six of the seven Hunter Hall funds on hold.

Lowenstein had been with Hunter Hall for 14 years, and was considered a key team member managing approximately one fifth of Hunter Hall's firm-wide assets under management, according to S&P.

"S&P will meet with Hunter Hall next week, and seek to understand how Mr. Lowenstein's investments will be managed, before reviewing the 'On Hold' ratings," said Justine Gorman, analyst at S&P Fund Services. 

The Hunter Hall funds affected by the announcement include: Australian Value Trust, Global Ethical Trust, Global Deep Green Trust, Global Ethical Trust Hedged, Asian Value Trust and the Value Growth Trust.

Hunter Hall announced yesterday that with Lowenstein's departure, long-standing senior portfolio manager James McDonald had been appointed to the position of deputy CIO.

The company said it had a long-standing succession plan to handle eventualities such as Lowenstein's departure.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 day ago

Interesting. Would be good to know the details of the StrategyOne deal....

5 days 7 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 3 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 5 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

4 days 5 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

3 days 8 hours ago