Forsyth Partners has withdrawn its A Rating from the Clariden Leu Luxury Goods Equity Fund following the resignation of fund manager, Scilla Huang-Sun, from Clariden Leu. Forsyth Partners recognise her as the leading force behind the fund’s success and, although she will continue to manage the fund during her six-month notice period, it believes there remains much uncertainty regarding the future management of the fund. Ms Huang-Sun’s departure coincides with the resignation of five other members of the investment management team, including the chief executive for Clariden Leu’s Investment Products Beat Whittmann. Forsyth Partners point out that for compliance reasons, the information flows from Clariden Leu are highly restricted and it is therefore currently unclear what effect these departures will have on the overall organisation at the Zurich-based bank. Forsyth Partners say they will continue to monitor the situation closely but do not anticipate a negative impact on the management of the two other rated Clariden Leu funds - technology and energy - as these are outsourced to Wellington Management Company. A spokesperson for Clariden Leu told WealthBrieifing: "The investment funds and structured products business will continue to be run to our usual high professional standards, as will risk management. The individual product managers will of course still carry out their responsibilities in a highly committed manner, ensuring that client interests continue to be looked after carefully and prudently. “The luxury goods fund in particular will be managed by Scilla Huang Sun until the end of 2007. Over the next few months we shall be devoting great energy to working with the successors of the departing members of staff to ensure that the duties are handed over in a professional manner. We regret the withdrawal of the rating by Forsyth Partners, as we are convinced that the fund will continue its good track record".