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S&P reviews value managers

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By Vishal Teckchandani
  •  
1 minute read

Standard & Poor's Fund Services (S&P) has upgraded a PM Capital fund and downgraded an Axa product as part of its review of the Australian equity value peer group.


The research house said it lifted its rating on the PM Capital Wholesale Australian Share Fund to three stars from two due to improved investment team stability and conviction in portfolio manager Paul Frost.

The Axa Wholesale Australian Equity Value Fund, managed by Bernstein, was downgraded to three stars from four due to a reduced level of overall conviction, S&P analyst James Gunn said.