PAC Capital declined to provide a ratings agency with underlying data on the returns by one of its funds, a step that could damage investor confidence.
SQM Research on Thursday withdrew ratings from two of the investment house’s funds, including its heavily promoted esports computer gaming fund, and downgraded ratings on two more to 3.25 stars, steps that signify to financial advisers that they should not recommend the funds to clients.
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Aaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com
