S&P places Deutsche fund 'on hold'
Standard & Poor’s has placed the RREEF Global Equity Opportunities Fund ‘on hold’ following Deutsche Asset Management’s (DAM’s) decision to conduct a “strategic review” of the fund.
DAM is the responsible entity of the fund. In its review of the product offering, DAM will be assessing the structure and investment management of the fund and the effect the current market conditions are having.
Investor redemptions and applications will be suspended during the review process.
S&P fund services analyst Simon Scott said the review came as a result of falling fund levels during the year, but the redemption freeze doesn’t point to cash or liquidity issues.
Nor does the review or redemption freeze affect any other DAM fund-of-hedge fund offerings.
The RREEF Global Equity Opportunities Fund was previously rated three stars. S&P will review the ‘on hold’ rating once the outcome of the DAM review has been finalised.
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.
