Standard & Poor's Fund Services has placed two UBS funds on hold, which was partly attributed to UBS Global Asset Management's (UBSGAM's) acquisition of ING Investment Management (INGIM).
UBS Global Property Securities Fund and UBS Property Securities Fund (which were previously rated three stars) were given the 'on hold' status following a reshuffle in portfolio and research responsibilities.
David Scott and Patrick Barrett - previously members of the INGIM Australian property securities team - are assuming the management of the funds as well as Australian real estate investment trust research.
Meanwhile, Vinay Narsi, who was covering property securities within UBSGAM, will take on broader industrials coverage.
Jakov Males will relinquish portfolio management of the UBS Property Securities Fund and assume management of its Australian Share Fund from head of Aussie equities Simon Shields.
Shields has assumed portfolio management responsibilities for a number of INGIM-managed Australian equities products.
These appointments are among several changes recently announced as UBSGAM's acquisition of INGIM settles.
S&P will meet with Scott, Barrett, and other senior members to ascertain how the current strategies will be affected and to resolve the ratings of both funds.
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
According to the industry body, funds should have an obligation to transfer members in failing products to better-performing products in a timely way.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
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