Team turnover costs IML
Continued staff turnover has cost two Investors Mutual Limited (IML) products their place on the recommended list of ratings house Zenith Investment Partners.
Zenith said that following careful consideration and discussions with IML it had decided to remove the IML Australian Share Fund and IML Industrial Share Fund from its recommended list.
Both products have now been rated as approved.
Zenith said the decision followed continued investment team instability within IML with five departures over the past two years, including those of senior portfolio manager Paul Front and senior equities analyst Shaun O’Malley.
It said that following the downgrade of IML’s funds, Zenith’s preferred large cap ‘value style’ managers were Perpetual Investments and Perennial Value Management.
AUTHOR
Mike Taylor
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