Standard & Poor's (S&P) has put two DDH Graham Funds on hold following the resignation of two senior staff from institutional investment manager QIC.
QIC director of global macro and credit Rob Jewell and portfolio manager Steven Smith have left the firm to join the banking sector.
Jewell and Smith worked in QIC's fixed income team.
The DDH Fixed Interest Fund and DDH Global Fixed Interest Alpha Fund are managed by QIC. They were previously rated four stars.
"The resignations of Rob Jewell and Steven Smith are viewed by S&P as significant, particularly that of Mr Jewell," S&P fund services analyst David Erdonmez said.
QIC managing director Susan Buckley will take over Jewell's responsibilities while the firm searches for a replacement.
The fixed income team recently hired Max Bulloch as a senior portfolio manager. Bulloch previously worked at Cheyne Capital Management.
Buckley said she was confident that replacements will be made quickly for both Rob and Steve.
