Friday, 31 July 2015
Last updated 16 hours ago
Sep 8 2006 | 12:00am ET
Its new hedge fund risk ratings service is just getting off the ground, but Moody’s Investor Services said this week that it has already rated a pair of hedge funds. The firm said its goal was to rate another 20 funds by the end of the year.
Only one of the two rated funds, Sorin Capital Management, agreed to have the Moody’s assessment revealed. After four Moody’s professional dug into the firm’s offering memoranda, audited financial statements and service agreements, and paid an on-sight visit to the firm, the ratings agency gave Sorin an operations quality rating of OQ1-minus.
The Moody’s scale runs from excellent (OQ1) to poor (OQ5).
The assessments, which are initiated by hedge funds often hoping to attract big institutional money, reportedly cost $25,000.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…