CFS fund ratings unaffected by team departure
Ratings on two Colonial First State (CFS) funds remain unaffected following the resignation of the health care sector specialist, Premal Pajwani, researcher Standard & Poor’s (S&P) has announced.
S&P said it was comfortable with interim arrangements currently in place, which was the key in making a decision on CFS Wholesale Global Share and Geared Global Share fund ratings.
Pajwani will remain with the business for the next three months to ensure a smooth handover of his responsibilities, while his sector coverage will be assumed by the team’s two consumer specialists.
Both consumer specialists have prior experience in the health care sector and they will perform the role until a suitable replacement can be found, the researcher said.
Pajwani has been with the team for four years.
Recommended for you
Large AFSLs with more than 100 advisers are seeing the largest losses in both adviser and AFSL numbers as individuals seek a smaller, personal vision in their work.
Former deputy CEO of AMP Capital, David Atkin, has announced he will be returning to Australia after stepping down as chief executive of the Principles for Responsible Investment organisation.
A global Morgan Stanley report has found 83 per cent of Asia-Pacific individual investors would select a financial adviser based on their sustainable investment offerings, and are most understanding of how ESG can boost returns.
Insignia Financial has announced the status of the two private equity bidders as due diligence comes to an end, with one bidder opting to pull out.
