Ratings agencies are reviewing their recommendations of Temple Bar (TMPL), after manager Alistair Mundy's departure cause the board of the £480m investment trust to serve a 12-month notice on its management group Ninety One.
In a statement published yesterday (20 April), the board concluded that "it is appropriate to conduct a review of the future management of the trust" given the "current circumstances". Ninety One had confirmed on Friday Mundy would take a leave of absence due to ill health. However, the board said it does not "wish to pre-empt" the results of the review and added it is "certainly possible" that Ninety One will continue to manage the trust. "The board believes that it is prudent at this time to serve 12 months protective notice on TMPL's manager, Ninety One UK, as per the terms of ...
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