Forsyth-OBSR has suspended the A and AA ratings on AXA Framlington's biotech and health funds following Gareth Powell's resignation.
AXA Framlington has also announced the appointment of Gemma Game as a healthcare fund manager, with a view to taking over the offshore AXA WF Framlington Health fund reins. “Despite this planned addition to the team, Forsyth-OBSR feels it prudent to suspend both ratings given the fact that Powell, in addition to being the lead manager of the biotech portfolio, also had substantial input on the generation of investment ideas for the health fund,” Forsyth-OBSR says. “Whilst Deane Donnigan is the lead manager on the health fund and has extensive experience, we would like to take some time to...
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