Ratings agency Standard & Poor’s (S&P) has given its first AAA grade to a Korean fund, awarding the top rating to the Atlantis Korean Smaller Companies Fund.

The fund is now one of only four AAA rated funds in S&P’s Emerging Markets Asia book.

Managed by Peter Irving and launched in 1995, the fund has risen 43.1% over the past five years – overwhelmingly outperforming both the sector average and index, both of which have fallen by 46.2% and 65.3% respectively.

The fund has ranked first in its universe over both five and three years.

S&P comments: “Irving has established an impressive track record.
“ Strong stock selection skills and effective use of the flexibility afforded him are evident in his use, for example, of convertible bonds, currency hedging and gearing.”