S&P rates BT Investment Management fund
Ratings house Standard & Poor's Fund Services has applied a four-star "new" rating to the BT Global Fixed Interest Wholesale Fund, managed by BT Investment Management.
The new rating followings the insourcing of management of the strategy, which had previously been outsourced to BlackRock Investment Management and rated three stars.
Explaining the changes, S&P said that under the former BlackRock management the offering differed considerably in both management style and product features.
"From a product perspective, the key difference was the index used to benchmark the BlackRock fund, which was the Barclays Global Aggregate Index," S&P fund analyst David Erdonmez said.
"BTIM's offering uses a government-only bond index. Investors should be aware of this change and seek financial advice regarding the risk and return implications for their fixed-income allocation," he said.
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
