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OBSR pulls T Bailey Growth fund rating

The £172.8m T Bailey Growth fund has been removed from the Old Broad Street Research fund ratings service while its management team undergoes changes.

Jason Britton, the chief investment officer of T Bailey, stepped down from his post and his role as the fund’s manager in March to take an industry break.

Richard Martin, who ran the portfolio from December 1999 to January 2009, rejoined T Bailey and temporarily assumed responsibility for the Growth fund’s management alongside existing manager Elliot Farley.

OBSR says it has a “high regard” for Martin but considers it “prudent at this time” to withdraw the fund’s suspended A rating and monitor the situation as the company seeks to appoint another manager.



Bellows attacks S&P credibility over US downgrade

Standard and Poor’s committed a “basic math error of significant consequence” when it decided to downgrade the US last week, according to John Bellows, the US Treasury’s acting assistant secretary for economic policy. On Friday afternoon, the ratings agency cut the country’s long-term sovereign credit rating from AAA to AA+ over concerns that its fiscal […]

US equity market dives following downgrade

The US equity markets have fallen quickly from their opening price in reaction to Standard & Poor’s’ decision to downgrade the country’s credit rating from AAA to AA+. At 15.35, the Dow Jones was down by 2.57 per cent to stand at 11151.94. The S&P 500 has also fallen by almost 4 per cent, to […]

Building societies lead innovation march

Building societies have injected fresh innovation into the mortgage market at a time when products tend to be limited to the lower loan-to-value ranges and are offered mainly to those with an impeccable credit history. Last month, Newbury Building Society launched a family offset at 3.95 per cent up to 95 per cent LTV, which […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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