View more on these topics

Ignis fund loses A rating

OBSR Fund Ratings has reviewed a series of bond funds, resulting in the withdrawal of the A rating from the Ignis Corporate Bond fund.

Joe McKenna, the fund’s former manager, left Ignis in December when 36 jobs at the group were made redundant.

At the time, OBSR suspended the rating, but now says in a release that the fund is “considered to be less compelling than others that they cover”. Therefore it has chosen to withdraw the rating.

Elsewhere, Cazenove, Investec and L&G Investment Management (LGIM) were awarded new A ratings.

Cazenove’s Strategic Bond fund, managed by Peter Harvey, was rated because OBSR “believe this to be a solid proposition for investors seeking broad, flexible exposure to European credit markets”. John Stopford, on the Investec Sterling Bond fund, was credited for good returns since the mandate was amended to include derivatives.

OBSR also says the skills and experience of Richard Hodges, the manager of the Legal & General Dynamic Bond Trust, combined with the resources available at LGIM makes this fund an “attractive strategic bond proposition”.

Related Articles:
Ignis fund rating suspended

Recommended

Unitholders approve Fidelity closures

Unitholders in the Fidelity Multi-manager Special Situations and Multi-manager Equity Income funds have approved the closure of the two portfolios.Fidelity is recommending unitholders switch their assets into the Fidelity Special Situations fund, managed by Sanjeev Shah, and the Income Plus fund run by Michael Clark.T Bailey meanwhile has offered unitholders in the two funds a […]

B&B appoints new MD

Bradford & Bingley has revealed that Richard Banks has been appointed as managing director.

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com