S&P assigns rating to the FF&P World Equities Fund

Standard & Poor's Fund Services announced that it has assigned an A fund management rating to the FF&P World Equities Fund.

Launched in June 2006, this global fund-of-funds is similar to a multi-manager product, as the FF&P funds that comprise the majority of its holdings are run by external managers. The day-to-day management team of this fund is led by Arthur Grigoryants, who has four years' experience as a fund manager at FF&P. The team draws on the experience of Neil Honebun, head of investment strategy, and Simon Peck, CEO, who still accompany the team on fund manager selection visits.

The fund targets long-term outperformance of benchmark and peers. The composite benchmark reflects the in-house strategic investment view and may be modified every two to three years. The portfolio management group sets more tactical asset allocation, with all recommendations requiring sign-off by the investment committee of senior team members.

"At fund selection level, the team wisely, and crucially, in our view, draws on the depth of experience of former manager Neil Honebon and CEO Simon Peck, who attend selection meetings. However, we remain to be convinced of the rigour of the sell discipline. Although the process is somewhat convoluted for what is a small organisation, on balance, the fund achieves an S&P fund management A rating," said S&P Fund Services.