Four Permal hedge Fofs given ratings by S&P's

Standard & Poor's new fund of hedge fund ratings system has attracted another client – US-based Permal Asset Management. The company's four funds garnered three AA ratings and a single A. The single A was awarded to Permal Asian Holdings. S&P's described the fund as one of the more volatile in the range. The research team said "This reflects market conditions in Asia-Pacific equities given the focus on equity long/short funds and a significant allocation – up to 33% – to long only. Timing on strategy allocation changes has been good, contributing to the fund's outperformance of the index o...