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Old Broad Street takes over Forsyth ratings

Old Broad Street Research is taking over the Forsyth-OBSR Ratings Service that it previously operated as a joint venture with Forsyth Partners Limited.

The rating service has been renamed OBSR Fund Ratings.

Old Broad Street Research says the joint venture ended automatically when FPL was placed in administration and ceased trading.

The hedge fund group ran into difficulties last month and its funds and staff were subsequently taken over by hedge fund group Cosby Capital Partners.

OBSR director Richard Romer-Lee says: “Particularly gratifying has been the widespread support we have received from all sides of the industry, including fund management houses, life offices and independent financial advisers, to continue the fund ratings service and for our plans to develop the business. We intend launching a new multi-manager rating service later in the year.

“OBSR Fund Ratings has an important role to play in the industry and is strongly supported by both users and fund managers. We aim to minimise any disruption and continue to provide the levels of service to which our clients are accustomed.”

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