EUROPE – Ratings agency Standard & Poor's has assigned two new ratings to funds run by Fortis Investment Management and reconfirmed three ratings of funds from CDC IXIS Asset Management, as part of an expanded European fund rating programme.

The new Fortis ratings are an ‘A’ for the Fortis L Fund Equity Finance World and an A/S4 for the Fortis L Fund Long Bond Euro.

CDC’s Euro Souverains fund had its AAA/S3 status reconfirmed, the CDC Convergence fund regained its AA/S4 label and the Euro Actions fund was also re-rated AA, under the new system.
The firm’s France Croissance fund was revised to single A.

James Tew, Standard & Poor’s European head of research, says: “These additional ratings further increase transparency for investors, who now have access free of charge to more than 1000 detailed reports on the funds we rate at
“Investors also have the assurance that a fund will only receive an S&P fund management rating if it is among the top 20% in performance terms and meets our strict criteria, both qualitative and quantitative.”