Zurich gets three stars
Zurich Investment Management has been given a three star rating in its first qualitative rating by Morningstar.
This makes Zurich a "good" manager in Morningstar's eyes joining the likes of BNP, IOOF, JB Were, Rothschild and Salomon, Smith Barney who share the three star rating.
The overwhelming majority (80 per cent ) of Zurich's 176 funds were rated three star or better, with eight achieving the highest accolade of five stars.
Morningstar highlighted Zurich's asset allocation, international equities and listed property as high performing operations but found the fixed interest and insurance bonds operations performed below the average fund manager.
Zurich Financial Services executive director John Butler says he expects Zurich's rating to improve.
"We are confident that as the short-term performance of our wholesale super managed growth fund continues to improve and as Scudder Investment Australia (its funds management arm) becomes more established, a higher overall Morningstar star rating will be achievable in the very near future," he says.
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