InvestorWeb reserves view on Rothschild deal
Research house InvestorWeb has place a notice stating that allRothschildfunds were ‘under review’ after the group’s recent announcement that it would merge its funds management business withWestpac.
“Although we are admirers of the group’s (Rothschild) sound management abilities across a number of asset classes, we do not feel it is appropriate for us to recommend the funds until we meet with Rothschild and discuss the terms of the alliance further,” InvestorWeb says.
Interestingly, the joint venture betweenANZandINGwhich was announced only a few weeks before, has been assessed by InvestorWeb as “not greatly impacting the management of the ING Funds Management products but will result in the ANZ Funds Management products now being managed by ING Investment Management.” As a result, InvestorWeb says, there will be no change to its rating of ING funds.
In its other fund ratings, as part of it’s regular monthly review, InvestorWeb downgraded theColonialFuture Leaders Fund to a ‘strong buy’ because of its fund size becoming very large, whileIOOF’sFixed Interest Fund was upgraded to the same, as InvestorWeb felt the fund had a disciplined process and outstanding performance.
In other news,Zurich’sProperty Securities Fund has retained its ‘exceptional buy’ rating following Deutsche’s takeover of Scudder Investments because InvestorWeb says the team at Deutsche will remain intact and the process will be unaltered.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
