OBSR downgrades BlackRock UK fund
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Old Broad Street Research (OBSR) has downgraded the BlackRock UK fund from a AA rating to an A rating following the appointment of Nick Little to the portfolio.
The news comes after it was announced that manager Mark Lyttleton would be standing down from management of the fund.
An OBSR spokesperson says: “We have been in close contact with the previous manager Mark Lyttleton, as well as Nick Little over recent months and are comfortable with the new manager’s investment philosophy and process which we believe are consistent with the requirements of a benchmark aware fund, but believe an A rating to be a better reflection of our conviction at the current time.”
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