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."...

TAKE A FREE TRIAL

The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.

Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now