Credit Suisse Asset Management’s (CSAM’s) Fixed Interest Funds have been placed on hold by Standard & Poor’s (S&P).

The ratings house announced today that it had placed the Fixed Interest Funds on hold following the departure of four members of CSAM’s Sydney-based investment team.

S&P fund analyst David Erdonmez said the resignation of CSAM’s head of fixed interest, Ben Alexander, along with Andrew Bartlett, Tamar Hamlyn and Stephen Clout represented a significant event for CSAM’s Australian Fixed Interest business.

However, the ratings house noted that CSAM had reacted quickly to the departures, with its former head of Australian Fixed Interest, Robert Mann, returning from Singapore to lead the team while the firm looked to hire replacements.

S&P said it would review the ‘on hold’ rating when the replacement team members had commenced and the team structure had been finalised.