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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OBSR has withdrawn the rating on Jupiter’s undervalued assets fund as part of its latest review.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OBSR has also withdrawn the ratings for the Old Mutual Japanese select and BlackRock global funds emerging Europe following the departures of fund managers Lee Jones and Plamen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.

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