OBSR restores A rating on Steer fund

Old Broad Street Research has restored an A rating to Tim Steer’s Artemis UK Growth fund.

OBSR suspended the fund following the departure of manager Adrian Paterson in June 2009. However, it says talks with replacement Steer, who joined Artemis from New Star, during the repositioning of the fund has convinced the ratings service to reintroduce the A rating.

The GLG Technology fund has also had an A rating reinstated. The fund was suspended after Hugh Grieves left the group following Societe Generale Asset Management's acquisition by GLG. OBSR says it has met with the new managers and has confidence in their ability to deliver solid returns to investors over the medium to long term.

Meanwhile, the Rensburg UK Mid Cap Growth Trust and Schroder Corporate Bond fund have been awarded a new A rating.