Fundscape hits back at gatekeeper report criticism

Fundscape said its report, written in conjunction with Graham Bentley's gbi2 and published in March, was based on quantitative analysis of fund performance and had been presented in a "fair and balanced way". The report had warned some fund lists were biased and did not base their ratings on the quality of the underlying funds. But ratings firm Rayner Spencer Mills Research (RSMR) - among others - criticised the report, saying it was badly researched and based on assumptions of how rating agencies operate. The report had analysed 1,060 funds by 140 groups authorised by the Financia...