24.06.10
Collins Stewart is awarded S&P A Rating for fund of "newcits" funds
London, Guernsey, Isle of Man, Jersey and Geneva – [x] xxx 2010:
Collins Stewart Fund Management is pleased to announce that the Collins Stewart Alternative Strategies Fund has received an A rating from Standard & Poor’s Fund Services. The Alternative Strategies Fund was the first fund of absolute return funds to be launched with UCITS III status and daily liquidity.
Launched in October 2009, the fund is managed by the same team who manage the Absolute Return Plus Fund, a fund of hedge funds, who apply their hedge fund due diligence expertise to the "newcits" universe of funds.
Andy Finch, Sales Director at CSFM commented, "we are delighted this fund has been rated by S&P, and especially pleased to be the first fund of its kind to be awarded a rating. Combined with the existing A rating for our Select Diversity Fund, this underlines our core strength as a multi-manager."
Richard Hodgetts, Fund Manager of the Alternative Strategies Fund said, "this endorsement from S&P is very satisfying and the fact that S&P highlighted the strength of our due diligence process, and particularly on the operational side, underlines the need for specialist fund selection skills when looking to invest in UCITS III absolute return funds. Using a fund of funds, managed by a team with Hedge Fund experience, can help steer investors and their advisers through the absolute return sector."