Credit Suisse downgraded

HIGH-PROFILE FUNDS DOWNGRADED AS PART OF S&p review, while M&G and Schroders upgraded

Credit Suisse's three income funds have all suffered downgrades as part of Standard and Poor's (S&P) latest review of the UK Equity Income sector. On the flagship Income and Monthly Income funds, run by Leigh Harrison, S&P said the portfolios have slipped from AA to A due to concerns that the dull track record in recent months may indicate a less efficient use of resources since Bill Mott stepped down in 2003. On Harrison's Alpha Income fund, which has also fallen from AA to A, the agency said the decision to refocus the product into a more stock-specific portfolio does not fit well with ...