S&P reinstates GSAM rating following resignation
Standard and Poor’s (S&P) has reinstated its three star rating of the Goldman Sachs Asset Management (GSAM) Income Plus Wholesale Fund, having placed the fund ‘on hold’ following the resignation of the fund’s chief investment officer and portfolio manager Andrew Cooke in August.
Subash Pillai has been appointed head of multi-sector and will remain head of fixed income, while Angus Bell will assume portfolio management responsibilities, according to S&P.
“We consider that the revised multi-sector team, which the experienced and well-regarded Mr Pillai now leads, is sufficiently positioned to continue to operate this fund,” said S&P Fund Services analyst Vesna Peroska.
While Bell has limited experience, Peroska said he would likely continue to develop under the guidance of Pillai and the GSAM asset allocation committee.
The committee contains a number of senior investment personnel that have experience across equities, fixed interest and property, while a dedicated quantitative investment team will provide further support, Peroska added.
AUTHOR
Chris Kennedy
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