Van Eyk puts ‘Hold’ on BT/Sagitta listed property
The influential van Eyk research group has placed BT/Sagitta’s listed property funds on a ‘Hold’ rating following the recent resignation of the group’s head of listed property, Carlos Cocaro.
The research house says Cocaro, who announced his departure last month after eight years with the group, was an integral part of the BT/Sagitta team’s active management of listed property securities.
Van Eyk says Cocaro’s temporary replacement, Antoinette Platter, has no previous portfolio management experience, although she has been with Sagitta’s listed property team for six years.
The research house says the fact that Platter was not immediately appointed as a permanent replacement for Cocaro may indicate “BT/Sagitta may not have complete confidence that [she] has the capability to fulfil the portfolio management responsibilities”.
The InvestorWeb research group has previously downgraded the rating of BT/Sagitta’s listed property team from ‘Exceptional Buy’ to ‘Strong Buy’ as a result of Cocaro’s departure. However the downgrade did not affect the BT/Sagitta’s overall ‘Investment Grade’ rating in the listed property sector.
Van Eyk will review the ‘Hold’ rating during its review of the listed property sector later this year.
Recommended for you
Infrastructure assets are well-positioned to hedge against global uncertainty and can enhance the diversification of traditional portfolios with their evergreen characteristics, an investment chief believes.
Volatility in US markets means currency is becoming a critical decision factor in Australian investors’ ETF selection this year.
Clime Investment Management is overhauling the selection process for its APLs, with managing director Michael Baragwanath describing the threat of a product failure affecting clients as “pure nightmare fuel”.
Global X will expand its ETF range of exchange-traded funds next month with a low-cost Australian equity product as it chases ambitions of becoming a top issuer of ETFs in Australia.
