The ratings race

Hedge funds

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It is common for hedge funds to be described as mysterious, secretive and risky. For years, investors, regulators and even some hedge fund managers have called for the industry to become more transparent, in part to change its image. Now, global rating agencies have unveiled ratings products that they believe will promote transparency.

Moody's Investors Service recently launched operational quality ratings aimed at assessing the robustness of a hedge fund's operational infrastructure, while S

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