Macquarie fund placed on negative ratings watch
SQM Research has placed the Macquarie International Infrastructure Securities fund on a negative ratings watch due to the departure of portfolio manager Andrew Maple-Brown.
The current four star rating awarded to the fund in June 2012 will remain on hold until a full review is undertaken at the beginning of the next year as part of SQM's annual global infrastructure securities review, the research house stated.
Maple-Brown had been portfolio manager since replacing Justin Lannen in April, who left the fund for "personal reasons".
According to SQM, the current rating may not necessarily change as a result of the change in management.
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