Changes to the PruSelect Fund Range 2009
The following changes have been made to the PruSelect fund range.
| Date | Fund Name | Action | Reason | OBSR Rating |
| 21/12/2009 | Fidelity European | Rating removed | Following the OBSR ratings meeting on 10th December 2009, OBSR have removed the rating for the Fidelity European fund. [more] The fund previously held an OBSR AA Rating, which was suspended when Fidelity announced that Tim McCarron was taking time away from the industry. The management of the fund has passed to Sam Morse who will officially take over in January 2010. OBSR have met Mr Morse, who is an experienced fund manager, having run UK equity mandates for the past 15 years. However, he is new to the competitive European peer group and will be gradually positioning the fund to reflect his own style, which OBSR believe seems promising but is still too early to be certain in their view. With this in mind, OBSR have decided to remove the fund's Rating but OBSR will continue to meet with Mr Morse regularly to monitor the fund's progress. |
Rating removed |
| 10/12/2009 | Artemis UK Growth | Fund rating updated | Following the OBSR Fund Ratings meeting on 10th December 2009, OBSR have re-introduced the rating at A. The fund previously had a suspended rating. [more] The fund is now managed by Tim Steer, who along with Stephen Yiu, joined Artemis in June 2009 from New Star. Having enjoyed an open discussion as he settled in and repositioned the fund, OBSR have gained a sufficient level of conviction to enable them to re-introduce the Rating at A. |
A |
| 12/11/2009 | Artemis Capital | Fund rating updated | Following the OBSR Fund Ratings Meeting on 12th November 2009, OBSR have amended the Rating for the Artemis Capital fund to A. [more] The fund previously held an OBSR AA Rating. OBSR acknowledge that the fund has an impressive longer-term performance profile, but they feel that given the deterioration in the performance profile versus the index and relevant peers since mid-2007, their conviction has moderated and that an A Rating is more appropriate. |
A |
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