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SQM revises Macquarie fund rating

11 December 2017 By Oksana Patron



SQM Research has revised the rating for the Macquarie Australian Small Companies Fund from 3.75 stars to fold following material changes to the investment strategy.

According to the fund’s responsible entity, Macquarie Investment Management Australia (MIM) its investment strategy would be changed from a fundamentally driven approach to a lower tracking error and systematic investment approach.

Also, the rating would be suspended until SQM Research received further information.

Following this, SQM would review the new strategy and publish a rating report that would be relevant to investors subsequent to the strategy change.

The current hold rating would remain in place until the new rating report is realised which would be expected by the close of Q1 2018.

According to Macquarie, MIMGL would commence transitioning the fund’s portfolio to the qualitative strategy no earlier than 18 December, 2017.

Proposed change would also include a reduction of the management fee to 0.6 per cent per annum, inclusive of the net effect of GST.

The transition would be finalised by no later than 24 January, 2018.

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