Pioneer wins first S&P rating in Europe

Pioneer Alternative Investments' fixed income relative value Global Opportunities Fund has become the first European managed hedge fund to win a rating from Standard & Poor's, (S&P) rated Aa.

This rating for the €382m portfolio, listed in Dublin, managed by Peter Cripwell and focusing on investment grade debt, displays S&P's assessment that the portfolio 'possesses strong protection against losses from credit defaults.'

S&P's analysis of the portfolio's volatility suggests the aggregate level o