Friday, 22 May 2015
Last updated 1 hour ago
Apr 1 2008 | 12:36pm ET
Fitch Ratings is expanding into funds of hedge funds. Or, at least, rating them.
The ratings agency is set to unveil its first batch of fund of funds grades this month. The ratings will be similar to those the firm uses for fixed-income, equity and collateralized debt obligations, with funds of funds rated between FoFHM1 (the best) and FOHFM5 (the worst).
Fitch will consider specialized resources, decision-making expertise, risk management and portfolio management processes in rating funds of funds. The firm will score funds on a scale of one to five in five categories: company and staffing, fund/manager selection, portfolio and risk management, investment administration and technology. The first two will be given a 30% weight, the third a 20% weight and the last two 10%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…