Fidelity's Luxembourg-domiciled Portfolio Selector Moderate Growth fund was among those downgraded i...
Fidelity's Luxembourg-domiciled Portfolio Selector Moderate Growth fund was among those downgraded in Standard & Poor's latest Asset Allocation sector review. Managed by Rita Grewal, the fund dropped a band from AA to A due to managerial changes and continued benchmark underperformance. The portfolio is invested solely in in-house investment pools, most of which replicate retail funds in the Sicav range and is actively managed against a composite benchmark made up of 60% the Merrill Lynch EMU Large Cap Investment Grade bond index, 20% MSCI World and 20% MSCI Europe. James Tew, S&P's head...
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