Moody’s issues quality ratings on Citadel, Marathon funds


Moody’s Investors Service issued operations quality ratings this week for hedge funds managed by Citadel Investment Group and Marathon Asset Management.

Moody’s gave OQ1 ratings (it’s highest) to Citadel’s Kensington Global Strategies Fund and Wellington Fund, according to Citadel. The two Marathon funds also received Moody’s highest rating, but Moody’s and Marathon declined to specify which two funds were rated.

Moody’s ratings examine hedge fund operations, but not portfolio risk. The ratings look at “everything except the investment decisions that go into running a fund on a day-to-day basis,” says Mike Ryan, an associate analyst at Moody’s.

The company’s hedge