Cramp sees fund ratings downgraded

Paul Cramp has lost the AA ratings on his Threadneedle UK Mid 250 and UK Smaller Companies Growth fu...

Paul Cramp has lost the AA ratings on his Threadneedle UK Mid 250 and UK Smaller Companies Growth funds, with both dropping to single A. In its latest review of the UK Growth sector, covering onshore and offshore funds, Standard & Poor's (S&P) said Cramp had not achieved the same degree of success at Threadneedle as seen earlier in his career. James Tew, director of fund research at the agency, said: "Admittedly, the market has not been conducive to his growth style of management but relative returns have been trending down for well over two years, causing the fund to slip below the rela...