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OBSR drops ratings on leading funds

OBSR has withdrawn the rating on Jupiter’s undervalued assets fund as part of its latest review.

The fund, which is now managed by Patrick Harrington, initially had its A rating suspended by the research firm in March 2009 when Edward Bonham-Carter stepped down. OBSR says it has decided to remove the rating whilst it monitors the managers process.

OBSR has also withdrawn the ratings for the Old Mutual Japanese select and BlackRock global funds emerging Europe following the departures of fund managers Lee Jones and Plamen Monovski respectively.

Meanwhile, the firm has also downgraded Andy Brough’s Schroder mid-250 from AAA to AA after pointing to a deterioration in the performance profile versus index and relevant peers since mid-2007.

Artemis UK growth has also had its rating suspended after the announcement that Adrian Paterson is to step down at the end of June in favour of ex-New Star fund manager Tim Steer.


Olney leaves Merrill role

Karen Olney has been made redundant from her post as chief European equities strategist at Banc of America Securities—Merrill Lynch, Fund Strategy understands.

IFAs welcome cut in FSA fees

Advisers have welcomed news that the FSA has reduced fees for IFAs and mortgage brokers by £11.7m compared with initial proposals in February.The regulator this week revealed finalised fee rates and Financial Ombudsman Service levies for 2009/10. At 4.8 per cent, the increase in fees for IFAs is not as steep as the FSA proposed […]

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Guide: Johnson Fleming’s managed auto-enrolment service for SMEs

Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.


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