Two managed Fidelity funds lose AAA status

Fidelity's £608m MoneyBuilder Global and £658m Wealthbuilder portfolios have both lost their AAA rat...

Fidelity's £608m MoneyBuilder Global and £658m Wealthbuilder portfolios have both lost their AAA ratings in Standard & Poor's latest review of the Managed funds sector. Meanwhile, funds of funds from Jupiter and Credit Suisse have been upgraded to AA status, and recently launched distribution funds from Legal & General and DWS Investments have also achieved AA ratings. Commenting on the Fidelity downgrades, James Tew, director of research at S&P, said while he remains impressed by the recent track record, manager Richard Skelt's responsibilities as director of quantitative and technical ...