Besley has resigned to pursue an opportunity outside the Australian small-cap sector.
S&P placed the funds on hold, because Besley was responsible for
a significant component of the team's total stock coverage.
"While a co-portfolio manager structure helps to mitigate key person risk, it's important that another experienced hire is made sooner rather than later given the size of the team's investable universe and the relative inexperience of the team's analyst," S&P analyst James Gunn said.
