Aberdeen's Asia Pacific unit trust, managed by Hugh Young, has received an AA rating from Standard &...
Aberdeen's Asia Pacific unit trust, managed by Hugh Young, has received an AA rating from Standard & Poor's.
The portfolio has outperformed the sector median in three of the past four calendar years and ranked top decile in 2000 and 2001. The fund previously held an AA rating but dropped out of the S&P review in May 2000, after failing to pass the quantitative screen due to its unwillingness to gain exposure to the tech, media and telecom bubble.
S&P said that in retrospect this highlights the disciplined stock-picking approach used by Young, focusing on quality growth stocks.
The Legal & General Far Eastern unit trust received an A rating. This fund has delivered consistent second quartile performance under manager Alan Booker since 1997 and stock selection is guided by broad economic and thematic views.
The Invesco Perpetual Pacific Core Fund, managed by Stuart Parks, saw its rating upgraded from A to AA. Parks has managed this fund from Henley since February 2000 and blends a pragmatic, stock-picking approach with macroeconomic analysis.
The offshore version of this fund, the Invesco GT Pacific fund failed to pass S&P's quantitative screen.
Management of this fund was transferred to Parks in August last year, after suffering poor performance from the aggressive growth-oriented approach pursued by the former manager Henry Chan.