InvestorWebResearch has removed all its ratings from funds managed by Deutsche Asset Management after Deutsche refused to be assessed under the research group’s new review process.
The process implemented over the last few months reviews managers across different asset classes and by specific sub-sectors within those asset classes.
The new process also requires each manager to pay separately to be reviewed in each sub-sector, forcing InvestorWeb to seek the approval of individual managers before applying the review.
InvestorWeb Research general manager David Wright says cost has increased by about 25 per cent.
According to a report released by InvestorWeb last week, Deutsche is the only large fund manager which has decided not to accept the research group’s new review process.
InvestorWeb did not report on which other smaller managers had rejected the new review process, but Wright says more than 90 per cent of clients took it up.
According to Wright, the new process was designed to tighten up the group’s review process.
“The main difference for us has been the breaking down of asset classes, that has been the real driver of change,” he says.
When contacted byMoney Managementlast week, Deutsche was unwilling to comment on its decision to not accept InvestorWeb’s new review process.
“We think they have good capabilities, so it can’t be because they thought we’d rate them badly,” Wright says.
