POWERED BY MOMENTUM MEDIA
Standard & Poor's puts two UBS funds 'on hold'
Standard & Poor's Fund Services has placed two UBS funds on hold, which was partly attributed to UBS Global Asset Management's (UBSGAM's) acquisition of ING Investment Management (INGIM).
UBS Global Property Securities Fund and UBS Property Securities Fund (which were previously rated three stars) were given the 'on hold' status following a reshuffle in portfolio and research responsibilities.
David Scott and Patrick Barrett - previously members of the INGIM Australian property securities team - are assuming the management of the funds as well as Australian real estate investment trust research.
Meanwhile, Vinay Narsi, who was covering property securities within UBSGAM, will take on broader industrials coverage.
Jakov Males will relinquish portfolio management of the UBS Property Securities Fund and assume management of its Australian Share Fund from head of Aussie equities Simon Shields.
Shields has assumed portfolio management responsibilities for a number of INGIM-managed Australian equities products.
These appointments are among several changes recently announced as UBSGAM's acquisition of INGIM settles.
S&P will meet with Scott, Barrett, and other senior members to ascertain how the current strategies will be affected and to resolve the ratings of both funds.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
