Aviva Global Convertibles - Under Review

FUND RESEARCH UPDATE: Fund rating moved to Under Review

Ruli Viljoen 15 September, 2014 | 3:14PM
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Following the announcement that David Clott and Shawn Mato are to relinquish their responsibilities as co-managers of the Aviva Global Convertibles fund to join US asset manager Westwood and run Aviva’s Global Convertibles Absolute Return strategy on an outsourced basis, we have placed the fund’s Morningstar OBSR Analyst Rating™ Under Review. The fund previously held a Bronze rating. Mr Clott and Mr Mato had been managing the fund together since 2004 and respectively covered US and Asian convertible bonds, which account for a large part of the convertible bond universe. Justin Craib-Cox joined as co-manager in 2010, with a focus on European convertible bonds, and will remain as lead manager on the strategy. Whilst we acknowledge Mr Craib-Cox’s experience and long-standing collaboration with the departing managers, we are concerned by the potential impact of a much reduced team. We will meet with Mr Craib-Cox in the coming weeks to assess the impact of the change on the fund.

See the latest Morningstar OBSR fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aviva Investors Glbl Convert A USD Acc  

About Author

Ruli Viljoen

Ruli Viljoen  is Head of Manager Selection, Morningstar UK

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