S&P releases ratings for 2012 Global Listed Property Securities Fund sector
Standard & Poor’s Fund Services today released ratings for funds in the 2012 Global Listed Property Securities fund sector review.
Peer group ratings remained relatively stable. One ‘On Hold’ rating was resolved and one fund rating outcome is pending. Five headline funds were reviewed, which included active and passive, currency hedged, and unhedged funds.
“There were no five-star rated offerings in the rated peer group, but manager and fund quality across the rated peer group remains high, as indicated by the number of three- and four-star ratings and no funds with ratings below three stars,” said Peter Ward, analyst at S&P Fund Services.
“The rating action taken to resolve the ‘On Hold’ rating on the AMP Global Property Securities Fund reflects a lowering of the pre-‘On Hold’ rating from four stars to three stars. The rating outcome was driven by significant investment team changes that have occurred in recent months. These changes have tempered our previous level of rating conviction associated with the capability,” said Mr Ward.
23 July 2012
