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May 6 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has updated its Global Asset Manager Rating Criteria as part of its periodic criteria review process.
Fitch's Asset Manager Rating methodology is designed to systematically capture, evaluate and report on the key attributes of an investment manager's operational and investment platform by focusing on five key areas: 1) Company, 2) Controls, 3) Investments, 4) Operations, and 5) Technology.
Asset Manager Ratings are assigned on a five-point descriptive scale ranging from 'Highest Standards' to 'Inadequate'. The top three ratings - 'Highest Standard', 'High Standards', and 'Good Standards' - are expected to apply to those asset managers that meet or exceed the standards typically applied by institutional investors.
The updated report does not include any material changes to the agency's ratings approach and as a result, there is no impact on existing ratings.
The criteria report is available at www.fitchratings.com or by clicking on the link below.
Link to Fitch Ratings' Report: Asset Manager Rating Criteria