PIMCO and abrdn funds lose Square Mile rating following manager departures

Eight new ratings

Square Mile has removed its ratings for the PIMCO GIS Dynamic Multi-Asset and abrdn Europe ex-UK Income Equity funds following the departure of their respective managers.

Analysts at the research and consulting firm decided to remove the 'A rating' from the PIMCO fund and the ‘Positive Prospect' rating from the abrdn fund in its Academy of Funds rebalancing for April. Geraldine Sundstrom will depart from PIMCO at the end of May, leaving the management of the multi-asset fund to co-managers Erin Browne and Emmanuel Sharef, alongside the wider asset allocation portfolio management team. Square Mile noted that despite the firm's "strong resources" and team approach, the fund's rating was largely predicated on Sundstorm's experience of managing dynamic mul...