Standard & Poor's, the ratings agency, has launched a European-based ratings service for funds of hedge funds.
The ratings reflect S&P's opinion of the fund of hedge fund's quality based on its investment process, team's experience, control of risks and consistency of performance relative to its own objectives, but not on its performance. S&P's has granted an triple-A rating to two funds managed by Permal â Permal Investment Holding and Haussman Holdings Permal â and to the GAM Diversity fund.
