burdett and potter downgraded

Morningstar OBSR has downgraded five funds in the Thames River multi-manager range, dropping them from a silver rating to a bronze.

burdett and potter downgraded


The ratings firm said it acknowledged the experience and strength of the Thames River team and the consistency of their investment process but the funds’ return profile had become less compelling relative to its peers.

“The volatile and macro-driven market conditions of the last few years have been challenging and Morningstar OBSR thinks the team’s main strength is in fund selection rather than asset allocation," it said in a statement.

Thames River’s multi-manager range is run by Rob Burdett and Gary Potter, supported by their investment team.

The five funds affected by the downgrade are the Balanced Managed, Cautious Managed, Distribution, Equity Managed and Global Boutiques funds.

At the same time Morningstar OBSR has downgraded the BlackRock US Dynamic Fund following a management change.

The fund was previously under review after the new co-management team of Chris Leavy and Peter Stournaras were announced, but the ratings firm said it does not have “sufficient conviction to reinstate a positive rating” and so it has given the fund a neutral rating.

Morningstar OBSR said this was in part due to some process and portfolio construction adjustments that had been implemented over recent months.



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