Morningstar OBSR cuts GAM Japan fund rating
Morningstar OBSR has cut the offshore £183.2m GAM Star Japan Equity fund to a bronze rating, following a recent change in management of the fund.
Ben Williams, a senior investment manager in the Pacific/Japan investment team, took over as sole manager of the fund at the start of the year.
Williams had worked with previous manager Lesley Kaye, who remains a consultant to the fund.
“Having been in regular contact with Mr Williams as part of our quarterly monitoring process, we are comfortable with this change but believe that an adjustment to the rating is appropriate,” reports Morningstar OBSR.
The fund previously held a silver rating.
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