Standard & Poor’s Fund Services (S&P) has upgraded the Macquarie High Conviction Fund and the SGH20 fund from three to four stars as part of its Australian equities large-cap sector review.
S&P analyst James Gunn said the review affirmed ratings on eight funds, upgraded two and assigned three new ratings.
Gunn sighted Macquarie’s increased team stability and the team’s strong buy-in to the process as key reasons for the upgrade, while SG Hiscock & Company’s SGH20 fund was upgraded due to team additions which have added breadth to its stock picking.
The BT Focus Australian Share Wholesale Fund remained the only strategy in the peer group with five stars, due to S&P’s high regard for the stock-picking ability of Crispin Murray.
“While we’re still building conviction in a number of strategies, which may lead to a higher number of five-star ratings in the future, the funds in this peer group provide access to the best ideas of some of the strongest portfolio managers in the sector,” Gunn said.
