OBSR upgrades Shah and Woolnough funds

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OBSR has upgraded both the £1.2bn M&G Optimal Income and the £2.8bn Fidelity Special Situations funds to AA ratings.

The ratings agency says Fidelity manager Sanjeev Shah, has demonstrated ‘a thorough and detailed knowledge' of the underlying stocks held in the portfolio and offered investors an uninterrupted transition in performance since assuming management from Anthony Bolton in January 2008. It also commended M&G's Richard Woolnough for his performance, experience and skill - while also lauding the benefit he draws from M&G's significant fixed income resources.

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