OBSR suspends AAA rating on ex-Whiteoak fund

OBSR has suspended its AAA rating on the AXA Framlington UK Smaller Companies fund following the departure of manager Roger Whiteoak.

Richard Romer-Lee, research director OBSR, comments: “Following the announcement that Roger Whiteoak is leaving AXA Framlington, OBSR has taken the decision to suspend the AAA-Rating awarded to the UK Smaller Companies fund with immediate effect.

“The management of the fund has passed to Chris St John and it is our intention to meet with him in order to understand his plans for the fund going forward.”

St John joined AXA Framlington in 2005 and is the primary fund manager for the institutional small cap strategies and the mid and small cap unconstrained strategies. He was also alternate manager on the Smaller Companies fund which recently had a drop off in performance and is fourth quartile year to date, down 9.7%.