TAdvStringGrid and BorderStyle

At design time, if I change BorderStyle on a TAdvStringGrid to 'bsNone' it gets reset to 'bsSingle' when I save, close and reopen the form.

Is BorderStyle dependent on another property of the grid and that resets it?
We have retested this here with a default grid on the form and changed BorderStyle to bsNone
and this shows the grid without border.