GLG's Japan CoreAlpha fund has been upgraded from an ‘A' to an ‘AA' rating by Old Broad Street Research.
The group cites its performance since undergoing a restructure in 2006 as the reason for the upgrade. The £428m vehicle is third out of 50 funds in the IMA Japan sector over three years to 27 July, up 13.8% compared to an average of 2.2%, according to Morningstar. OBSR says: "This upgrade is in acknowledgement of the strength of the offering, the consistency in the approach and the strong returns that have been produced since the fund was restructured in January 2006."
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