Fund buyers have said the changes announced at Stewart Investors earlier this morning will not make them sell holdings immediately, but the new managers will have to prove themselves before confidence in the strategies is restored.
Following fund leadership changes across Stewart Investors, FundCalibre has removed its Elite Rating on the Stewart Investors Global Emerging Market Leaders and Asia Pacific Leaders funds, and the First State Latin America fund. Tulloch and Asante step down from funds but remain at Stewart Investors Darius McDermott, managing director at FundCalibre, said: "This is very unsettling for investors. The teams have only recently been split into two and now we have some substantial changes with some very experienced lead managers taking a back seat. "We fully appreciate the investment ...
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