First State Global Property Securities - Neutral

FUND RESEARCH UPDATE: Fund rating moved to Neutral

Ruli Viljoen 30 June, 2014 | 11:56AM
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Following the Morningstar OBSR Analyst Ratings Meeting on 12th June 2014, we have moved the First State Global Property Securities fund to a Morningstar OBSR Analyst Rating™ of Neutral. The fund was previously Under Review following a change in management. Andrew Nicholas relinquished the management of this fund to Stephen Hayes in August 2012. Mr Hayes is an experienced manager and his association with First State dates back to 1999 when he joined to establish the firm’s global property securities business. He subsequently worked to develop the business over the next seven years, before leaving First State in 2006. Since his return, there have been new hires and turnover within the team, and Mr Hayes has been enhancing the team’s stock models, resulting in a newly assembled, geographically separated unit. Given these changes we would like to see the team settle down as a cohesive unit and we believe a Neutral rating to be appropriate at the current time.

See the latest Morningstar OBSR fund rating news here.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
First Sentier Glbl Prpty Secs A GBP Inc179.35 GBP-5.02Rating

About Author

Ruli Viljoen

Ruli Viljoen  is Head of Manager Selection, Morningstar UK