S&P to set up hedge fund evaluation service
NEW YORK – Rating agency Standard & Poor's is gearing up to establish a service evaluating hedge funds on their operational risk, in response to market demand.
S&P has announced that it has updated the criteria for rating hedge funds to incorporate all aspects of risk when investing in hedge funds, including greater emphasis on operational risk. The rating agency would consider infrastructure issues such as the back office, improper working practices of traders, financial and trader controls and valuation procedures, as well as general governance issues
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