Glebe passes muster in ratings round-up

ETHICAL fund manager Glebe Asset Management has received its first ratings from research house Assirt, with business management, operating capabilities and Australian shares all rated as ‘competent’.

While the group received a ‘weak’ rating for its fixed interest capabilities, Glebe sales and marketing general manager Paul Harding-Davis says this was not unexpected given the current economic climate.

He says the group is likely to score better when Assirt releases its ratings on the group’s small cap and Pan-Asian equities funds. At present, its large cap fund carries three stars.

In other ratings, Colonial First State (CFS) was given a bevy of ‘very strong’ and ‘strong’ ratings. Assirt says CFS chief executive John Pearce has been able to retain the confidence of the independent advisory market.

However, Assirt says while the CFS management team is experienced, the manager is yet to prove its ability in maintaining a culture of investment management shielded from short-term commercial and bureaucratic concerns.

Hedge fund managers K2 Asset Management and HFA Asset Management were also favoured by Assirt, with K2’s opportunistic equities fund rated as ‘strong’ along with HFA’s international hedge fund-of-funds.

Basis Capital’s new high yield product was rated ‘very strong’, with Assirt stating the process is “well thought out”, while Eley and Griffiths Group received a ‘strong’ rating for its small cap capabilities.