S&P reinstates Aberdeen ratings
Ratings house Standard & Poor's Fund Services has this week removed from 'on hold' and assigned three-star ratings to three Aberdeen global and Australian fixed interest funds.
The company had placed the funds 'on hold' following the resignation of senior credit analyst Stuart Gray.
Announcing the change, S&P Fund Services analyst Kelly Napier said Aberdeen's local fixed-income team had undergone a period of transition with departures and new hires, and was now fully resourced.
"Experienced head of Australian fixed interest Vic Rodriguez continues to lead the team in conjunction with other senior members," Napier said.
"New hires have added to the team's local credit resourcing and includes an experienced senior hire in John Manning," she said.
"However, the remainder of the credit team does have less experience than peers."
The S&P announcement said all three funds had met or exceeded their objectives over relevant investment periods and delivered solid risk-adjusted returns.
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