Richard Buxton of Jupiter Asset Management (pictured)
The analysts said it had been a «difficult decision» to take away the rating, despite it being taken over by Ed Meier and Errol Francis, who have worked alongside Buxton for a number of years.
The Square Mile team said it felt the fund's strategy to be «synonymous with Mr Buxton», and therefore felt they could «no longer support the fund's inclusion» within the Square Mile Academy of Funds.
Richard Buxton to retire from Jupiter
Elsewhere, the analysts downgraded the rating of the First Sentier Global Listed Infrastructure fund, taking it from an 'AA' to an 'A' rating, following a sector review.
Square Mile noted «the fund's relative performance has slightly disappointed versus expectations in recent years», which the analysts said had led to a «slight dampening» in their overall conviction in the fund.
The team still backed the fund's management despite the poor returns, calling it an «attractive infrastructure strategy backed by a strong management team».
Square Mile also suspended its ratings on three BNY Mellon Investment Management fixed income funds following the news that Paul Brain, lead manager and Newton Investment Management's head of fixed income, will hand over the reins of the funds' management and assume the new role of deputy chief investment officer of multi-asset, with effect from 31 July 2023.
Brain has led Newton's fixed income team for almost two decades, and is also chair of the bond/FX strategy group at the company.
The three affected funds are the BNY Mellon Global Dynamic Bond fund (A), the BNY Mellon Sustainable Global Dynamic Bond fund (Responsible A) and the BNY Mellon Global Dynamic Bond Income fund (A).
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