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March 08, 2006
Rating agencies now looking at hedge funds
The interest of investors in the highly unregulated hedge fund industry is rising continuously. This has also led to a rising interest of rating agencies that are eying the industry to increase their scope.
Amongst the agencies that are expanding operations is Moody's Investors Service, New York is one. The agency is currently developing a methodology for rating hedge fund operations. It plans to release its first rating by the end of next month.
These ratings would be focused on hedge funds in the US. These ratings would actually be an assessment of the quality of the operations of the fund. As a result, it would make t easier for investors to select the hedge funds that they would want to invest in. Globe and Mail reports:
The move comes as global interest has soared in Canada's $30-billion hedge fund industry, lured by its exposure to commodities prices. However, the industry has been plagued recently by several high-profile scandals, such as the collapse of Portus Alternative Asset Management Inc. and Norshield Financial Group.
Ratings agencies now looking at hedge funds
The interest of investors in the highly unregulated hedge fund industry is rising continuously. This has also led to a rising interest of ratings agencies that are eying the industry to increase their scope. Amongst the agencies that are expanding operations is Moody's Investors Service, New York is one. The agency is currently developing a methodology for rating hedge fund operations. It plans to release its first rating by the end of next month. These ratings would be focused on hedge funds in the US. These ratings would actually be an assessment of the quality of the operations of the fund. As a result, it would make t easier for investors to select the hedge funds that they would want to invest in. Globe and Mail reports:
The move comes as global interest has soared in Canada's $30-billion hedge fund industry, lured by its exposure to commodities prices. However, the industry has been plagued recently by several high-profile scandals, such as the collapse of Portus Alternative Asset Management Inc. and Norshield Financial Group.
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