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Morningstar gives unwanted Xmas presents

Sunday 7th of January 2001
Research house Morningstar delivered unwelcome presents to two major fund managers on the last working day before Christmas.

On the Friday before Christmas Morningstar downgraded AMP from a five star manager to a four star one. Likewise it dropped BT Funds Management Australia from a four star rating to a three.

The reasons for the two downgrades were similar.

Morningstar main...

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