S&P gives 'A' ratings to F&C Stewardship funds

Standard & Poor's Fund Research has awarded a new ‘A' rating to F&C's Stewardship Income and Stewardship Growth funds, despite manager Catherine Stanley only taking over the portfolios in June.

OBSR earlier this month withdrew its ratings on the two funds, to allow Stanley, who also manages F&C's UK Smaller Companies fund, to develop a track record. But S&P says: "We acknowledge Catherine's track record on small/mid cap mandates, an area where these funds are likely to be focused, and the experience she will be drawing on to help her stock selection further up the cap-scale. As a result, the committee felt both funds worthy of an A (New) rating." Meanwhile, S&P has also upgraded Gartmore's £1.3bn Sicav Latin American fund to an AAA rating. The fund, managed by the group's he...