A number of smaller asset management groups have told Investment Week of their frustration with ratings agencies, following a report by Fundscape and gbi2 criticising some 'gatekeepers' for ignoring lesser-known names.
The Gatekeepers Report, published last week, found buy lists and rankings from fund ratings agencies may be misleading, as they do not always include vehicles based on their quality and longevity of returns, and tend to favour the big household names. Graham Bentley, MD at consultancy gbi2, said: "The importance of research in fund selection is undeniable, but there are significant differences in the quality of the research processes we reviewed. "There are plenty of funds that deserve to be on the lists, but there were also some that had less performance substance and more reputation...
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