S&P launches new fund rating designation

Standard & Poor's Fund Services has announced a new Tenure Review (TR) designation in order to provide greater clarity to the market around its fund ratings. The designation will be assigned to funds whose managers do not have the minimum 12 months investment management experience required to be considered for a full S&P fund management rating. This will often occur as the result of a change in fund manager across asset classes, or the appointment of an external fund manager whose relevant investment management experience is less than 12 months. The following six funds have been assig...