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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”.

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Ignis fund rating suspended


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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.


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