IFA attacks S&P ratings

ASAM says investors relying on the ratings provided “could be sorely disappointed”, because its own research suggests some poorly performing funds may be getting better ratings than funds with better performance. ”Richard Branson’s Virgin UK Tracker Investment Fund, which is down £1.8bn, was awarded a two-star rating,” the IFA says. ”However, the Scottish Widows UK Growth Fund, which has lost even more money, achieved a four-star rating.” ”In fact, the fund from Scottish Widows is credited with the same rating as the Halifax UK Growth Fund, which lost less money than the Virgin Tra...