BT Funds Management has made its way back on to recommended lists, following its sale to Principal last month.
While there has been a mixed response from financial planning and research groups, a number of firms have given the new owners the seal of approval.
Most organisations are pleased with the sale to the US-based funds management group, however some are still wary until the fallout from the sale has dissipated.
Morningstar Research communications manager Deidre Keown says: "the all-important continuity of investment management philosophy, style and process is assured. BT's highly regarded investment expertise has been preserved across their investment sector specialities."
This was echoed by Austplanners general manager of research, Lynn Curtiss who says the purchase was a strong, positive move and the group is pleased and reassured after meeting with Principal.
Yet concerns still remained in regards to some areas, chief among them staffing.
"We have maintained our hold recommendation as hope to reach a decision soon, but still need to discuss issues such as team stability and performance," says Assirt senior research manager Patrick Bennett.
"On the whole we're happy with the acquisition as it was one of the better outcomes, maintaining autonomy in BT business."
Bridges research manager Dominic Mc Cormick says a lot of Bridges money is still flowing into BT Funds Management, "they represent only a small side of our business, around five per cent."
"We're waiting to see what happens in funds and with change of staff and will talk in August but so far no money has been pulled."
BT has responded to concerns with chief investment officer Andre Morony downplaying the impact of the staff changes and hold notices saying it was well within accepted parameters for this kind of event.
BT Funds Management - recommendations for new money
July 99 March 99 Nov 1998
ANZ recommend recommend
Austplanners recommend recommend
Bridges hold hold
Count recommend recommend
Deutsche Bank recommend recommend
Londsdale recommend hold
RetireInvest recommend recommend
Westpac hold hold
ASSIRT hold hold
Van Eyk Research recommend hold
Morningstar recommended suspended