First State Asia Pacific - Silver

FUND RESEARCH UPDATE: Fund rating downgraded to Silver

Jeremy Beckwith 26 June, 2015 | 6:55AM
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Following a recent Morningstar Analyst Ratings Meeting, we have moved the First State Asia Pacific fund to a Morningstar Analyst Rating™ of Silver. The fund previously held a Gold rating. First State Stewart has announced that it will be splitting into two totally separate entities from 1st July 2015. Although this fund will continue to be managed by Angus Tulloch using the same investment approach, post the split there will be a loss of investment resources supporting the Asia research effort. This and changes to support functions have resulted in us taking a cautious approach, reducing the fund’s rating one band. We do, however, continue to reflect our high conviction in the manager and existing team through the new rating.

See the latest Morningstar fund rating news here.

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Jeremy Beckwith  is Director of Manager Research for Morningstar UK