Standard & Poor’s Fund Services today removed from ‘On Hold’ and announced the ratings on five Hunter Hall-managed funds.
The Australian Value Trust, Asian Value Trust, the Value Growth Trust, and the Global Ethical offerings (hedged and unhedged) were placed on hold in April 2012 after the departure of chief executive and portfolio manager David Buckland.
Mr Buckland’s departure was followed weeks later by that of portfolio manager, Chad Slater. These departures followed the resignation of deputy chief investment officer (CIO) and portfolio manager, Jack Lowenstein, in November 2011.
“We were disappointed to see the departure of such experienced and tenured portfolio managers but we took comfort from Hunter Hall’s hiring of portfolio managers Simon Bridger and Jonathan Rabinovitz, capable investors who each have over 25 years’ experience. The team of 13 now includes seven portfolio managers and two analysts,” said Mr Mills.
“While we are reassured by Hunter Hall’s overall level of investment experience and resourcing, we feel that the resumption of a stable team environment is very important for the firm following a tumultuous six months of staff turnover,” he said.
Risk manager and ethical analyst Michael Walsh is currently interim CEO of Hunter Hall, after Mr Buckland’s departure, but from July 30, will hand over his temporary executive duties to new CEO, David Deverall. Mr Deverall will focus on leadership and growth of the business.
24 July 2012
