Making sense of the complex FoHF world

Randal Goldsmith outlines the process behind Standard & Poor's fund of hedge funds ratings service Rating and comparing funds of hedge funds (FoHFs) in all their permutations must often seem like herding cats - a thankless and nigh on impossible task. But for investors to make sense of the fast changing FoHF world, a robust system needs to be in place. Randal Goldsmith, associate director, fund ratings at Standard & Poor's Fund Services explains how S&P has gone about its FoHF ratings process. Previous incarnations had pitted hedge funds and all their permutations against traditional l...