S&P handles sibling funds
Standard & Poor's Fund Services announced that it had this week assigned ratings to various sibling funds managed by a range of fund management.
It said the sibling funds in question related to headline funds available on BT platforms where Westpac Financial Services is the responsible entity.
The ratings house explained it defined a sibling fund as a fund that invests in an underlying pool or fund that it rated, or a separate pool or mandate that is managed in exactly the same way by the same investment team as the main capability or "headline" fund.
S&P said the headline funds and their ratings were unaffected by the release of ratings on the sibling funds associated with them.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
