Old Broad Street Research (OBSR) has removed its AAA rating from the New Star Sterling Bond fund following the recent change in management.
Last week it was announced that after the completion of the merger between Henderson and New Star, Phil Roantree, the manager of the Sterling Bond fund, would not join the newly merged group.
Henderson’s Stephen Thariyan and Philip Payne have taken over the fund. OBSR says it will meet the two investment grade bond managers to discuss their plans for the portfolio.
All the other New Star funds retained by Henserson’s have kept their ratings. However, OBSR says it will continue to monitor their situation as the integration of the two teams progresses.