S&P forges ahead with fund research
Standard& Poor’s (S&P) is preparing to launch a ratings system for managed funds in a move designed to bolster its already considerable push into the Australian funds management research arena.
The research house already rates cash management and bond funds, but will move into the qualitative rating of all equity based funds in the second half of this year, S&P Fund Services director David Collins says.
“This would be an extension of what we are already doing in the US and Europe,” he says.
Collins says S&P will leverage off the group’s global resources to contest the already highly competitive Australian funds research market.
The move follows the announcement last week that S&P had launched a ratings system for master trusts and wrap accounts, to be called the Master Trust Evaluation.
The new service will rank master trusts and wrap platforms as either extremely strong, very strong, strong, satisfactory or weak.
S&P is also developing a hedge fund index to offer to the Australian market in the third quarter of this year.
The index will contain 40 funds divided into the three sub-indices of arbitrage, event driven and tactical, which in turn will incorporate nine specific strategies including macro, equity long/short and managed futures.
According to Collins, S&P will also consider rating hedge funds at some stage in the future.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
