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Schmidt Rating  

 

 

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2010 Ratings:

November 24, 2010: Schmidt Research Partners confirms its Rating Updates on Gottex MN Plus, one of Gottex fund management’s flagship funds, Portable Alpha as well as Gottex Tiger. It confirmed the AA rating for MN+ and Portable Alpha first awarded in 2007, and reconfirmed in 2009. Gottex Tiger received a A rating. Rating valid until Nov 2011.

July 15, 2010: Schmidt Rating announced today new public ratings on the following Signet funds: Signet Global Fixed Income (rated AA), Signet Global Fixed Income Strategies Limited (rated AA), Signet Emerging Opportunities (rated AA) and Signet Global Equity Fund(rated AAA). Rating valid until July 2011.

2009 Ratings:

Sep 17, 2009: Schmidt Research Partners publishes today its Rating Update on Gottex MN Plus, one of Gottex fund management’s flagship funds. It confirmed the AA rating first awarded in 2007. Rating valid until Sep 2010.

June 20, 2009: Schmidt Rating announced today new public ratings on the following Signet funds: Signet Global Fixed Income and Signet Global Equity Fund. Signet GFI is rated A by Schmidt Rating. Rating valid until June 2010.  Signet Global Equity Fund is rated AA by Schmidt Rating. Rating valid until June 2010.

 

2008 Ratings:

Due to the unprecedented market developments in Q3 and Q4 2008 (short selling ban in Sep 2008, increased illiquidity of financial markets as a consequence, Lehman collapse in Sep 2008, suspension of single manager redemptions since October 2008 leading to redemption suspensions of hedge funds of funds, Madoff Fraud, et al) which changed the the landscape for financial markets and investments, no rating updates or new ratings have been issued yet. Schmidt Rating is in the process of reassessing the risks of individual hedge funds, hedge funds of funds, the hedge fund industry as whole (including service providers) and financial markets in general. New ratings on Gottex, Signet and other firms will be issued in due course.

2007 Ratings:

Gottex (valid until Sep 2008)    MN Plus     Portable Alpha     Tiger

Signet  (valid until Oct 2008)    GFI     GFI 2     GFIS     Emerging Opportunities

 

 

 

 

 

 

2007 Schmidt Ratings for Signet funds GFI, GFI 2, GFIS and Emerging Opportunities  

31 October 2007

Schmidt Rating announced today its first new public ratings on Gottex Funds MN Plus, Portable Alpha and Tiger.

Schmidt Rating announced today new public ratings on four Signet funds: Global Fixed Income, Global Fixed Income Series 2, Global Fixed Income Strategies and Emerging Opportunities

Signet Global Fixed Income Fund (GFI) is the firm’s flagship fund, now soft closed to new investments.  According to our analysis, which is based on our assessment of firm, fund and performance / risk, Signet GFI is a solid investment proposition. Even though August 2007 was a difficult month for the hedge fund industry, Signet managed to contain its drawdown and ended the month -0.49%.   Signet GFI is rated AAA by Schmidt Rating.

Signet Global Fixed Income Fund Series 2 (GFI 2) is the successor to the firm’s flagship fund, Global Fixed Income (GFI), now soft closed to new investments.  GFI 2 has a similar structure and risk / return profile to GFI. According to our analysis, which is based on our assessment of firm, fund and performance / risk, Signet GFI 2 is a solid investment proposition. Even though August was a difficult month for the hedge fund industry, Signet managed to contain its drawdown and ended the month -0.47%. Signet GFI 2 is rated AAA by Schmidt Rating.

Signet Global Fixed Income Strategies Limited (GFIS) is an ISE listed / LSE traded closed-ended company, allowing investors to get exposure to the firm’s flagship fund: the Signet Global Fixed Income Fund (GFI).  According to our analysis, which is based on our assessment of firm, fund and performance / risk, Signet GFIS is a solid investment proposition for HNWI with tax considerations and institutions that need a traded vehicle. Even though August was a difficult month for the hedge fund industry, Signet managed to contain its drawdown and ended the month down less than -0.2%.  Signet GFI is rated AA by Schmidt Rating.

Signet Emerging Opportunities (EO) is Signet’s specialist fund for the emerging and converging markets where the firm believes it can find more attractive alpha. According to our analysis, which is based on our assessment of firm, fund and performance / risk, Signet EO is a very interesting investment opportunity. Even though August was a difficult month for the hedge fund industry, Signet managed to contain its drawdown and ended the month -0.60%. Signet EO is rated AA by Schmidt Rating.  

 

 

2007 Ratings for Gottex Funds MN Plus, Portable Alpha & Tiger by Schmidt Rating

26 Sep 2007

Schmidt Rating announced today its first new public ratings on Gottex Funds MN Plus, Portable Alpha and Tiger.

Gottex Market Neutral Plus Fund is like Gottex’s flagship fund Gottex Market Neutral Fund a market- neutral hedge fund of funds aiming to produce excellent risk adjusted returns. According to our analysis, which is based on our assessment of firm, fund and performance / risk, Gottex MN Plus shows high quality. Despite the drawdown of -2.42% in August 2007 which was larger than expected and more than what the older flagship fund ever suffered before, the fund is sound. Gottex MN Plus is rated AA by Schmidt Rating. 

Gottex Portable Alpha Fund is a new, innovative product combining beta (market exposure: S&P, FTSE, Bonds-RBI) with alpha (via Gottex’s flagship fund Gottex Market Neutral Fund). According to our analysis, which is based on our assessment of firm, fund and performance / risk, Gottex Portable Alpha is a good product for investors who want both market exposure and a good alpha source. Despite the recent drawdown in the alpha component in August 07, the proposition of the Gottex Portable Alpha fund is intact. The fund is rated AA by Schmidt Rating. 

Gottex Tiger Fund is Gottex’s Asian Fund product allocating into Asian managers and markets only. An interesting fund for investors who want to participate in the Asian story, both from a market (beta) as well as alpha perspective. According to our analysis, which is based on our assessment of firm, fund and performance / risk Gottex Tiger shows high quality. Some terms and conditions in Gottex Tiger are less favourable for investors than in other Gottex funds. The fund suffered a drawdown of -3.12% in August 2007 which is in line with the high risk / return profile. Gottex Tiger is rated AA by Schmidt Rating. 

 

For more information please contact:

Jacob H Schmidt

CEO, Schmidt Research Partners Ltd

36 Seymour Street, London W1H 7JF, UK

+44-(0)20-7723-8060 Direct /  +44-(0)7768-07-55-63 Mobile

rating@schmidt-research.com / www.schmidt-research.com / www.schmidt-rating.com

 

 

Schmidt Rating launches public fund and hedge fund rating

21 Sep 2007

Schmidt Research Partners Ltd, the global advisory and research firm, announced today the launch of Schmidt Rating. Schmidt Rating will provide public fund and hedge fund ratings – based on qualitative, quantitative and structural analysis. The methodology of rating was developed by Jacob H Schmidt, who has worked in financial markets for over seventeen years. A former portfolio manager, derivatives expert and adjunct professor of investments Jacob has researched and rated hedge funds since 2000. The new rating follows Schmidt’s Three Pillar Approach, a holistic analysis developed over the last two years, which assesses each pillar (representing qualitative, quantitative and performance aspects) separately and awards an A if appropriate. The final rating of a fund is the sum of all three parts (A to AAA Rating).  This allows funds, investors and other interested parties to understand why a fund has a high or low rating and where the fund’s strengths and weaknesses are. In addition the forward looking analysis focuses on the current status as well as leading indicators, such as alpha potential of a strategy, market info - forecasts of spreads, margins or ratios and the firm’s potential and risks. 

Says Jacob H Schmidt, CEO and director of rating: “Encouraged by many market participants we decided to launch Schmidt Rating, based on our Three Pillar Approach. The hedge fund industry stands for talent, but there are also many second class operators, copycats and cowboys we would never recommend to our clients. We only rate funds which fulfil our benchmark criteria. We believe that the recent blow-ups in the hedge fund industry show how important independent, critical research on hedge funds is. We believe our edge lies in our extensive experience as hedge fund and derivatives experts.” 

The first ratings will be published shortly.

About the firm: Schmidt Research Partners was set up in September 2005 and has been authorised and regulated by the FSA since August 2006. The firm offers investment advisory, due diligence and rating of hedge funds and other investment vehicles. The two founders of Schmidt Research Partners Ltd have combined experience of 40 years in financial markets and rating experience of over 10 years. Jacob H Schmidt, CEO and Director of Research, is well-known as an expert in alternative investments and in hedge funds in particular.

For more information please contact:

Jacob H Schmidt

CEO, Schmidt Research Partners Ltd

36 Seymour Street

London W1H 7JF, UK

+44-(0)20-7723-8060 Direct

+44-(0)7768-07-55-63 Mobile

rating@schmidt-research.com

www.schmidt-research.com

 

Important Disclaimer

The rating report have been produced by Schmidt Rating, a trading name of Schmidt Research Partners which is authorized and regulated by the Financial Services Authority.

Schmidt Research Partners analyses, researches and advises on traditional and alternative investment vehicles and specializes in hedge funds, hedge funds of funds and structured products. Schmidt Rating produces rating reports on the basis of in-depth analysis.

The reports have been adopted and approved for distribution to institutional, qualified and experienced investors. The reports were produced by Schmidt Rating and Schmidt Rating has given permission to distribute the rating reports to (institutional, qualified or experienced) investors in line with the rules and regulations of the respective regulator and / or legislator.

Although reasonable care has been taken to ensure fairness and accuracy of statements of fact and opinion in all material respects, such accuracy cannot be guaranteed. The announcement on this website or the rating document do not constitute an offer or solicitation of any transaction in any securities referred therein. The reports are not an invitation to enter into any agreement with the fund managers included in the report. Any recommendation may not be suitable for all investors. Schmidt Research Partners/Schmidt Rating does not accept any liability whatsoever for such use and no claims for any loss or damage arising from the reliance on the information by any party shall be entertained. The documents and any recommendation contained therein speak only as of the date hereof and is subject to change without notice. This rating report is being furnished to you for informational purposes only and on the condition that it will not form the primary form of any investment decision. Each investor must make their own determination of the appropriateness of any investment in any security referred herein based on legal, tax and accounting considerations applicable to such investor and investment strategy. By virtue of the rating opinion and reports, no employee or director of Schmidt Research Partners shall be responsible for any investment decision. The rating reports may discuss numerous securities which may not be qualified for sale in certain states and may therefore not be offered to investors for sale. Schmidt Rating Reports are public research documents, produced independently and may be distributed by the fund manager and his affiliates to their institutional, qualified or experienced clients, in line with the rules and regulations of the respective regulator. Schmidt Research Partners receives a fee for the distribution right. Schmidt Research Partners or its affiliates may have other commercial arrangements with the fund managers or their affiliates.

The rating documents are the copyright of Schmidt Rating / Schmidt Research Partners. All rights reserved.

 United Kingdom Regulations 

Schmidt Research Partners is authorized and regulated by the Financial Services Authority. Schmidt Research Partners does not provide investment advice or investment management services to clients defined as private customers by the FSA. Schmidt Research Partners’ research / advice may refer to unregulated funds subject to the marketing restrictions of the Financial Services and Markets Act 2002 and the (Promotion of Unregulated Schemes) Regulations 1991. These funds are not suitable for certain UK investors. The investments referred to on this website and / or in the rating documents are unregulated collective investment schemes and the promotion of any such schemes to any person in the United Kingdom is prohibited except to persons authorized under the Financial Services Act 1986 and other limited classes of persons specified in The Financial Services (Promotions of Unregulated Schemes) Regulations 1991. The documents and any information contained therein are not an invitation to enter into any agreement with the fund managers discussed in the document.

For more information please contact:

Jacob H Schmidt

CEO, Schmidt Research Partners Ltd

36 Seymour Street, London W1H 7JF, UK

+44-(0)20-7723-8060 Direct /  +44-(0)7768-07-55-63 Mobile

rating@schmidt-research.com / www.schmidt-research.com / www.schmidt-rating.com

 

 

Last Update: 26/11/2010

Schmidt Research Partners Limited (“SRPL”) is authorised and regulated by the Financial Services Authority (452684).

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