Morningstar Downgrades H2O Allegro

H2O has to regain investors' trust after it emerged that funds were exposed to highly illiquid bonds, many of which have now been sold off or marked down, analysts say

James Gard 27 June, 2019 | 10:49AM

Natixis, France

Morningstar analysts have downgraded global macro fund H2O Allegro to Neutral a week after putting it under review over concerns about its exposure to illiquid, high-risk bonds linked to controversial German entrepreneur Lars Windhorst.

Analyst Mara Dobrescu said concerns over the fund’s risk controls prompted the downgrade of the fund, which was previously rated as Bronze.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
H2O Allegro EUR-I C95,920.33 EUR-8.48

About Author

James Gard  is content editor for Morningstar.co.uk

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