Macquarie and SG Hiscock upgraded: S&P
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.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
