Morningstar has downgraded six of BlackRock’s global fixed income funds from ‘Silver’ to ‘Neutral’ following the exits of fund managers Michael Krautzberger, Tom Mondelaers and Chris Allen from the Fundamental Euro fixed income team.
Morningstar said the departures had an impact on the Morningstar Medalist Rating of the funds Krautzberger, Mondelaers and Allen were managing. The BlackRock vehicles targeted by the downgrade were the Sustainable Fixed Income Strategies, Sustainable Euro Corporate Bond, Sustainable Euro Bond, Euro Short Duration Bond, Euro Corporate Bond and Euro Bond funds. Krautzberger was head of the EMEA fundamental fixed income team and managed four of BlackRock's funds affected by the downgrade – the Euro Bond, Sustainable Euro Bond, Euro Short Duration Bond and the Sustainable Fixed Income Str...
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