S&P ratings on Australian funds are no longer valid following yesterday's official closure of the S&P Capital IQ Fund Services business in Australia.
All ratings have formally been withdrawn on locally researched funds and all S&P Australian fund ratings and reports cannot be relied upon, effective immediately, S&P stated.
"We have appreciated our clients' support throughout the wind down of the Fund Services business and we'd like to thank all of our clients for their business and support over the past seven-plus years," said S&P Fund Services head of research Leanne Milton in a statement.
S&P said other S&P Capital IQ services, as well as services from sister brands S&P Dow Jones Indices and Standard & Poor's Ratings Services, are unaffected.
"All three brands remain committed to the Australian market. S&P Capital IQ will concentrate local resources on serving Australian institutional clients with a suite of domestic and global multi-asset class data, research, and analytics, delivered through integrated desktop and enterprise solutions," S&P stated.
