logo

Trends + Ratings

S&P announces ratings on six Hunter Hall Trusts previously on Hold

11 Jan 2012
From

Standard & Poor’s Fund Services today announced ratings for six Hunter Hall equity trusts placed ‘On Hold’ on 24 November 2011. 

Five of the trusts are now rated three stars, affirming the rating held prior to their ‘On Hold’ status. The Hunter Hall Asian Value Trust, however, is allocated a two-star ‘NEW’ rating. This change reflects the effects of the departure of former senior portfolio manager and deputy chief investment officer (CIO) Jack Lowenstein. 

Mr Lowenstein’s expertise was of higher importance to the Asian value strategy relative to the other Hunter Hall equity offerings. Mr Lowenstein was managing approximately 35% of the trust’s assets prior to his departure and held the greatest level of Asian equities experience within the team. We considered him to be a key driver of our conviction in the Asian strategy. 

“In affirming the rating on the other trusts, we recognise the continued presence of a portfolio management team including CIO Peter Hall, CEO David Buckland, and newly appointed deputy CIO James MacDonald,” said S&P Fund Services analyst Justine Gorman. 

Together Mr Hall, Mr Buckland, and Mr MacDonald manage the bulk of Hunter Hall’s FUM. However, further departures among these senior ranks may lead to S&P lowering its conviction on the Hunter Hall suite of trusts. 

Management of Mr Lowenstein’s share of the various trusts’ assets, as well as his stock research responsibilities, were reallocated to other members of the portfolio management team. We believe it will take team members time to develop familiarity with their additional stock coverage.

Tags:      

Earn CPD Points

  • CPD: A TTR strategy for modern retirement

    We are currently witnessing one of the most significant demographic transformations in Australia’s history. Over the next decade, an estimated 2.5 million Australians are expected to enter retirement[1]. This article, [...]

  • CPD: Trend following in uncertain times

    Trend following strategies aim to generate returns by capturing sustained price movements across a diverse range of asset classes. Unlike traditional investment approaches that rely on valuation or forecasting, trend [...]

  • CPD: Aged care advice and ethics

    Data from the Australian Institute of Health and Welfare (AIHW) shows that Australia’s population aged 65 and over is projected to reach 22% – or 8.8 million people – by [...]

  • CPD: AI governance – a practical framework for advisers

    Regulator scrutiny of AI governance just got serious In years to come, they may well call it the ‘Mythos effect’ – the point in early 2026 where all the concerns [...]

  • CPD: Thinking outside the box – providing a loved one a paycheque for life

    Australia’s great wealth transfer is well underway. An estimated $5.4 trillion is expected to pass from those aged 60 and over to younger generations within the next two decades.[1] In [...]

View more CPD