The Australian equities funds of Goldman Sachs JBWere (GSJBW) are on hold after the financial services firm changed its head of equities.
Standard and Poor's Fund Services (S&P) placed the three-star-rated Australian equities funds on hold after GSJBW changed its head of equities from joint head and chief investment officer Andrew Cooke to an internal staffer from the proprietary trading area, Dion Hershan.
S&P said the appointment represented the third head of equities in less than 12 months, which also meant the existing team would need to adjust to another change in management.
It said it would review the on-hold rating after it met with Hershan.
The funds affected by the announcement are the GSJBW Australian Equities Fund, GSJBW Australian Equities Nil Entry Fund and GSJBW Australian Equities Wholesale Fund.
