S&P alters classifications

Standard & Poor's is to combine onshore and offshore FSA recognised funds in single peer groups. Under these new classifications, fund performance will be judged on a bid-to-bid basis, rather than offer to bid as is the case with IMA sectors. This is to allow offshore funds, traditionally looked at on a bid-to-bid basis, to be compared to their onshore counterparts. However, the funds in S&P's Global Investment Fund sectors will have performance presented in sterling terms. Users of S&P will continue to be able to access IMA categories via the information provider's systems. S&P stresse...