Friday, 31 October 2014
Last updated 6 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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