S&P reinstates GSAM rating following resignation
Standard and Poor’s (S&P) has reinstated its three star rating of the Goldman Sachs Asset Management (GSAM) Income Plus Wholesale Fund, having placed the fund ‘on hold’ following the resignation of the fund’s chief investment officer and portfolio manager Andrew Cooke in August.
Subash Pillai has been appointed head of multi-sector and will remain head of fixed income, while Angus Bell will assume portfolio management responsibilities, according to S&P.
“We consider that the revised multi-sector team, which the experienced and well-regarded Mr Pillai now leads, is sufficiently positioned to continue to operate this fund,” said S&P Fund Services analyst Vesna Peroska.
While Bell has limited experience, Peroska said he would likely continue to develop under the guidance of Pillai and the GSAM asset allocation committee.
The committee contains a number of senior investment personnel that have experience across equities, fixed interest and property, while a dedicated quantitative investment team will provide further support, Peroska added.
Recommended for you
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
Despite the perception that short-term market events shouldn’t affect portfolio decisions, Praemium research finds 60 per cent of advisers have made portfolio changes in response to US President Donald Trump’s decisions.
International advice group Findex has appointed a senior individual to spearhead its M&A and growth operations across Australia and New Zealand, seeking to make the brand a household name.
