Seven funds lose Elite Rating
At our research team’s annual investment committee review meeting in July 2018, it was decided...
The Elite Rating has been removed from SLI Emerging Market Debt, following the resignation of its manager.
Richard House managed the fund from launch in October 2012, generating returns of 51%* for investors and outperforming the sector average by 30%*.
In a statement yesterday, the company confirmed that Richard had left and that Kieran Curtis would take on his fund management responsibilities with immediate effect.
Aberdeen and Standard Life Investments merged on 14 August 2017. On completion of the integration of their fixed income teams, Brett Diment, currently head of emerging market fixed income for Aberdeen, and lead manager of Elite Rated Aberdeen Emerging Market Bond fund, will head up the combined team.
Darius McDermott, managing director of FundCalibre commented: “It’s with real regret that we have to remove the Elite Rating on this fund, which has served investors so well over the past five years.
“Richard had a strong team supporting him – which will be further strengthened when it eventually combines with the Aberdeen team. However, the success of this fund was down to Richard’s skill and the process he brought with him when he joined SLI from Columbia Threadneedle, so the Elite rating has to go.”
*Source: FE Analytics, 12 October 2012 to 5 September 2017, total returns in sterling.