Standard and Poor's places Colonial First State property funds 'on-hold'
Standard and Poor's (S&P) has placed Colonial First State's property securities funds 'on hold' following the departure of the company's global property securities portfolio manager, John Snowden. Andrew Nicholas has taken on the role of portfolio manager of global and domestic property securities funds.
The freeze affects 24 Colonial property funds. S&P will review the status of the funds after its review of the international listed property sector in April.
Snowden was appointed to the role of head of property securities at Colonial in February 2006. He previously worked at UBS as head of real estate and global real estate securities for Australia, New Zealand and Asia. He also worked as deputy head of equities at JP Morgan Investment Management.
Nicholas is the former senior property manager, Asia Pacific, at Colonial. He has 21 years of experience in the property sector.
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