Global funds of funds earn double A ratings from Standard & Poor's

Permal Investment Management has been awarded AA ratings by Standard & Poor's for two of its global fund of funds, Haussmann Holdings and Permal Investment Holdings. The Permal Japan Holdings fund was also rated AA earlier this year.

Omar Kodmani, senior executive officer of Permal Investment Management Services Limited, commented: 'We are delighted to have been awarded two further AA ratings by S&P which has historically been extremely reluctant to rate any form of hedge fund.

'It is important