FOHFs exposed to Madoff strategies de-rated by S&P

Bernard Madoff is alleged to have defrauded clients investing in an elaborate ponzi, or pyramid, scheme of almost $65bn. He has pleaded guilty to 11 felonies including securities fraud, money laundering and perjury. The following FOHFs were put under review in December last year: Bonhote Alternative Multi-Arbitrage Constantia Composite Constantia Low Volatility DGC Pendulum Ltd Dinvest Concentrated Opportunities Dinvest Total Return RMF Four Seasons S&P Fund Services has now reviewed each fund on a case-by-case basis, focusing on the stated reasons for investing in and c...