Portfolios from Gam and Legal & General were among those downgraded by Standard & Poor's in its late...
Portfolios from Gam and Legal & General were among those downgraded by Standard & Poor's in its latest review of the Asset Allocation sector. Meanwhile, M&G and Aviva both had their funds upgraded. The Gam Portfolio, managed by David Smith and Matt Gibson, has dropped from AA to A because the ratings agency believes experienced resources are being diverted to hedge fund management while performance has been unexciting. Over the course of the past year, the managers have reduced the number of funds in the portfolio from 14 to 10, in order to focus on their highest conviction managers. The...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
