OBSR removes ratings from HSBC LatAm funds
OBSR, the investment fund research and services company, has removed two Latin American equity funds from HSBC from its global fund ratings service following the departure of senior HSBC portfolio manager Jose Cuervo.
Santander Asset Management, Grupo Santander’s global asset management unit, announced on Monday that Cuervo was joining the group as global head of regional mandates for Latin American equities.
At HSBC Cuervo was responsible for building portfolios and managing Latin American equities and Brazil, as well as Latin American equities invested in the BRIC countries and emerging markets GEM funds.
The HSBC GIF Brazil equity fund and the HSBC GIF Latin America equity fund both had OBSR “A” ratings. They will now be managed by Natalia Kerkis, senior portfolio manager based in Brazil, who has been co-manager of the portfolios since February 2010. OBSR said it will be speaking with her in the coming months to discuss plans for the fund.
OBSR was established in 1999 and was acquired by Morningstar in April 2010. It offers products and services for fund managers, product providers, distributors and wealth managers and carries out more than 2,000 fund manager interviews each year.