Morningstar has placed Milford’s Trans-Tasman Fund “under review”.
The change illustrates the possibility of sell-down driven liquidity concerns.
Milford has agreed to pay $1.5 million after an FMA investigation into market manipulation claims.
Outflows have so far been minimal but Morningstar said that could change.
Portfolio manager Mark Warmington’s duties have been passed to Brian Gaynor, which could potentially be disruptive, Morningstar said.
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