Morningstar Inc. cut its ratings of three funds run by UBS Group AG and Invesco Ltd., citing high staff turnover as a concern for performance.
The researcher downgraded UBS (Lux) Equity Fund China Opportunity, UBS (Lux) Investment SICAV - China A Opportunity, and Invesco Greater China Equity Fund, according to a note on Wednesday. Morningstar said a loss of team members was the main reason for the ratings change.
