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INGIM fund ratings unaffected by departure

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By Vishal Teckchandani
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2 minute read

Standard & Poor's Fund Services (S&P) has said its ratings on all ING Investment Management (INGIM) Australian equity funds are unaffected by the resignation of INGIM analyst Keiran Sisson.

INGIM had already redistributed Sisson's primary sector coverage for diversified financials, healthcare and insurance stocks among the remaining team members, S&P fund analyst Peter Ward said.

"At this stage, INGIM has told us that it does not intend to replace Sisson. However, we have sufficient comfort to maintain our current ratings given the team's existing resources and experience," Ward said.

"At the same time, we're conscious that this follows a number of departures in 2010 in the broader team.

"While the manager moved quickly to replace those employees, we will continue to monitor the situation for any further developments."