Citadel flagship funds downgraded by Moody's
Fri Mar 13, 2009
Moody's Investors Service downgraded Citadel Investment
Group's flagship Kensington and Wellington funds, having
concluded that they hadn't properly adjusted their risk
management controls to deal with the rapid decline in the
markets last fall – a decline that resulted in steep
losses for the funds.
The operational quality ratings were lowered from OQ1,
meaning "excellent," to OQ2, meaning "very good."...
ISSN: 2151-1845 / CDC10004H
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