GLG Japan Corealpha Fund Upgraded to ‘AAA’ by OBSR
London, 06 December 2010 – GLG, a wholly owned subsidiary of Man Group (“Man”), is pleased to announce that Old Broad Street Research (OBSR) has upgraded the GLG Japan CoreAlpha Fund to ‘AAA’ from ‘AA’.
Managed by Stephen Harker and Neil Edwards, the £883m Fund is one of the top performers in its sector, having delivered a positive return of 15.60% since launch on 31 January 2006 compared to a sector average of -21.28%.
The UK-domiciled fund, which is managed on a contrarian, value basis, had previously been awarded ‘Elite’ status by Morningstar UK, which acquired OBSR earlier in the year.
Explaining the upgrade, OBSR said: “Our amendment of the GLG Japan CoreAlpha fund rating from ‘AA’ to ‘AAA’ reflects OBSR’s high conviction in Stephen Harker and his team. The result is a fund that offers investors exposure to a portfolio of Japanese large and mega-cap equities, managed by an experienced UK-based team.”
Richard Phillips, Head of UK Retail at Man, said: “The GLG Japan CoreAlpha fund has an excellent track record and is consistently among the top performing funds in its sector. For the fund to have been awarded OBSR’s highest rating is a tremendous achievement for the team and reflects the consistency and quality of the CoreAlpha strategy and approach.”