The managers who called S&P's downgrade of France

clock

The decision by Standard & Poor's to strip France of its prized AAA-rating came as no surprise to a number of fund managers.

Investment Week looks back at which fund managers correctly predicted the downgrade. Jim Leaviss - ‘the AAA economy closest to a downgrade" M&G's Jim Leaviss, head of retail fixed interest, said in December 2010 France's credit rating was set to come under pressure over the next couple of years. He also predicted the downgrade of the US' AAA-status six months before it happened. "France remains the AAA economy closest to a downgrade and the US will lose its AAA-rating - but not in 2011," said Leaviss. "Economic growth at these types of levels will not make the inroads into imp...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read