S&P fails to provide AAA rated service

Many intermediaries use Standard &Poor's Fund Research as a fund picking screen but just how consistent is it? The group uses both a quants base and qualitative analysis and spent a large part of last year debating with investment houses how much they should pay for its ratings. The fact that S&P bases its ratings on interviews with fund managers has caused many intermediaries to use it as a screening tool in their recommendations. However, at times the ratings can appear quite arbitrary and unless IFAs know the exact reasoning behind each grade, then they hold little value. Martin Curri...