S&P maintains Aberdeen fund ratings
Team changes affecting Aberdeen Asset Management's Multi-Asset Income and Capital Growth funds have not resulted in a rating downgrade.
Ratings house Standard & Poor's confirmed this week that its ratings on the two funds had been unaffected by changes to Aberdeen's multi-sector strategy teams, including Peter Elston's appointment to the newly-created role of head of Asia-Pacific strategy and asset allocation.
S&P said that Elston would be responsible for Tactical Asset Allocation (TAA) and chair of the Australian TAA committee, taking over from Anthony Michael, and that following a transition period Michael would leave the team to focus on his role as head of Asian fixed income.
The ratings house noted that, separately, the head of Australian equities had been appointed to the Australian TAA committee, with senior investment manager Mark Parry being appointed to the global strategy team.
It said that Aberdeen had also advised that senior investment specialist and portfolio manager for the local multi-strategy offerings, Leanne Bradley, had resigned effective from 16 January.
It said that Bradley's responsibilities would be filled by Elston, leaving the Australian multi-sector offerings without local management.
AUTHOR
Mike Taylor
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