S&P has outlined concerns regarding a fund managed by Titanium Asset Management.
Standard & Poor's (S&P) has highlighted concerns regarding Titanium Asset Management's TAM ASX 200 All-Weather Fund and said it was unsuitable for retail investors.
The fund had been hit with a sell rating from S&P, however the research house withdrew its rating at the request of the manager.
"In line with our standard process, Titanium was given the opportunity to review the report for factual accuracy prior to publication, which they did," an S&P spokesperson said.
"Any factual concerns raised were addressed. The remainder are differences of opinion. Our sell rating was based on our view that this fund is not suitable for retail investors and exposes them to significant risk."
S&P, in the original rating, said the manager lacked the necessary infrastructure and personnel consistent with a retail offering, which presents significant risk to investors.
The TAM ASX 200 All-Weather Fund is a market-neutral strategy based on the implementation of the research work of the product's portfolio manager Peter Rice, S&P said.
Rice said that S&P's rating contained "major shortcomings, omissions and inconsistencies" and Titanium was in legal discussions over the report.
The two non-consecutive alphabetic letters encountered most often last week caused more controversy than the underlying policy they represented, Wouter Klijn writes.... read more »
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