CFS hedge funds terminated

Money Management- Ratings house Standard and Poor’s has withdrawn its ratings from six of Colonial First State’s (CFS’s) fund-of-hedge-fund strategies.

The ratings house announced today that the decision had been reached following an internal strategic review by CFS, which had decided that the funds would be terminated on May 26.

“S&P has withdrawn the ratings on the funds following CFS’s announcement that it will no longer continue to run its fund-of-hedge-fund strategies and that the existing products will be terminated,” S&P fund analyst Simon Scott said.

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