S&P ratings unaffected by returns

Portfolio returns have no direct impact on Standard & Poor's fund ratings under the agency's fully q...

Portfolio returns have no direct impact on Standard & Poor's fund ratings under the agency's fully qualitative judging system put in place from 1 August 2003. The initial quantitative screen will remain to identify funds worthy of further analysis and manager interview, but performance numbers will no longer influence a fund's actual S&P rating. S&P's qualitative analysis focuses on factors such as a fund's management, corporate status and investment process, all of which it believes can contribute to long-term outperformance. S&P's head of fund ratings for Europe, James Tew, said...