View more on these topics

OBSR cuts Jupiter opps fund rating

OBSR has cut its rating on the £1bn Jupiter financial opportunities fund managed by Philip Gibbs to AA due to co-manager Guy de Blonay’s “increasing influence on the product”.

OBSR says the fund, which invests in financials sector equities, lost its AAA rating following a meeting on October 14.

Jupiter hired bottom-up star De Blonay from Henderson in January. He became co-manager of the opportunities fund on June 1 alongside top-down star Gibbs, who has run the fund since 1997. Performance has suffered in recent months and in August, De Blonay said managers had underestimated the impact of Government stimulus measures.

An OBSR statement says: “We believe an AA rating is at this stage a more appropriate reflection of our comfort in the long-term risk-reward profile that we expect De Blonay to deliver.”

From launch in June 1997 to June 30 this year, the fund has delivered an industry-leading 732.6 per cent return against 33.8 per cent from its benchmark index.

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