Premium China Funds Management has become the latest manager to withdraw its funds from Standard & Poor’s ratings services since the ratings house announced it would discontinue Australian funds research, effective 1 October 2012.
Premium China associate director and head of distribution Jonathan Wu confirmed S&P’s impending withdrawal from the Australian market was the main factor in the move, describing it as a "business decision".
He said after a discussion with the ratings house the two entities would be parting ways amicably.
The three funds withdrawn from ratings are Premium Asia Alternative Strategies – Equity Beta Variable, which had been rated four stars, and Premium China Global Equities – Emerging Markets and Premium SAM Asia Property Global Property – Listed, which had each been rated three stars.
Premium China funds will continue to be rated by van Eyk, Mercer, Lonsec and Zenith, Wu said.
