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BlackRock property fund gains three-star rating

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By Vishal Teckchandani
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2 minute read

Research house Standard & Poor's (S&P) has assigned three stars to the BlackRock WS Property Securities Fund (Aust) (Class D).

The product was placed on hold on 26 November 2008, following the loss of the fund's real estate investment trust (REIT) analysts, Paul Juniper and Richard Fakhry.

Juniper and Fakhry, who were previously responsible for stock research, analysis, modelling and ratings for the fund, were internally replaced by Danielle Carter who returned from parental leave, and Nadeem Hussain, whose role as direct property analyst was expanded to include REIT analysis.

"The departures of Juniper and Fakhry are considered losses for the fund, particularly given their replacements are not dedicated to REIT analysis," S&P fund analyst Nathan Bode said.

"Notwithstanding the loss of Juniper and Fakhry, S&P remains comfortable with the size and experience of the current investment team, but this is something we will be monitoring closely."

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