S&P handles sibling funds
Standard & Poor's Fund Services announced that it had this week assigned ratings to various sibling funds managed by a range of fund management.
It said the sibling funds in question related to headline funds available on BT platforms where Westpac Financial Services is the responsible entity.
The ratings house explained it defined a sibling fund as a fund that invests in an underlying pool or fund that it rated, or a separate pool or mandate that is managed in exactly the same way by the same investment team as the main capability or "headline" fund.
S&P said the headline funds and their ratings were unaffected by the release of ratings on the sibling funds associated with them.
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