Morningstar places six BNPP IP funds under review as senior manager exits

Morningstar has placed six BNP Paribas Investment Partners (BNPP IP) Dividend and Parvest funds under review, following the group’s restructuring of it’s High Yield team, which resulted in the departure of  Wouter Weijand, global head High Income Equity at BNPP IP.

BNPP IP announced on Monday that it will restructure its Global and European High Income Equity Fund range, with the portfolio management of global strategies being moved from Amsterdam to London, while the European portfolios will be managed in Paris.

Weijand announced his resignation as a result of the decision, he has been with BNPP IP and its predecessors ABN Amro Asset Management and Fortis Investments for 26 years, since 2003 as head of High Income Equity Strategies.

The funds affected are BNP Paribas Asia Pacific High Income Equity Classic, BNP Paribas Global High Income Equity Classic, BNP Paribas High Income Equity Classic Unhedged, BNP Paribas Europe DividendeParvest Equity High Dividend Europe and BNP Paribas Premium Global Dividend Classic.

“Because of  Wouter Weijand’s central role in the investment team managing BNPP IP’s dividend funds and due to the organisational changes, Morningstar has placed the BNPP IP and Parvest funds under review”, explains Jeffrey Schumacher, fund analyst at Morningstar.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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