H2O's Allegro fund downgraded by Morningstar on risk concerns
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LONDON (Reuters) - Fund rating company Morningstar said on Monday it had downgraded H2O Asset Management's Allegro fund to 'negative' from 'neutral' amid concerns about risk management at the company.The downgrade comes after a period of review and follows hefty losses for the fund during market turmoil in March. It also comes a year after Morningstar raised concerns about the fund's holdings in illiquid debt. "The fund's bold macro bets have led to extreme losses in the market turbulence of..