OBSR cuts rating on Fidelity Moneybuilder, Wealthbuilder funds

The Fidelity Moneybuilder Global and Fidelity Wealthbuilder funds have been lowered to a single ‘A’ rating from ‘AA’ by OBSR, the qualitative research business owned by Morningstar.

OBSR said that the funds were downgraded because they were deemed to have a “fettered nature”, which limited their appeal in the “increasingly competitive global equity sector”.

In a separate rating decision, OBSR gave the Aberdeen Ethical World fund an ‘A’ rating. This previuosly unrated fund is led by an equity team described as being held in high regard, and who are able to utilise Aberdeen’s global resources.

“The team’s quality bias and conviction led portfolio construction, whereby risk is viewed in absolute terms rather than relative to the fund’s index, has served investors well. While the ethical screening can lead to structural biases, these have not inhibited the fund’s performance over the long term and the team has demonstrated it can outperform a diversified index as well as a peer group of ethical funds through time. OBSR believes it is an attractive option for investors seeking an ethically-invested global equity fund.”

Fund Name Prior Rating New Rating Movement Domicile
Aberdeen Ethical World None A New UK
Fidelity Moneybuilder Global AA A Down UK
Fidelity Wealthbuilder AA A Down UK


Close Window
View the Magazine

You need to fill all required fields!