Chelsea Financial Services has teamed up with Albemarle Street Partners to launch a fund ratings agency
FundCalibre, set to be an “independent fund rating agency and research centre”, will launch at the start of 2014, subject to FCA approval and will be directed towards individual investors as well as intermediaries.
The ratings system will be based around a quantitative system, AlphaQuest, which aims to strip out the effects of market movements from a fund’s performance, looking to identify solely where the manager has added value.
The service has already signed up 20 of the main retail asset management groups, including M&G Investments, Invesco Perpetual and BNY Mellon.
Sam Liddle, partner at Albemarle Street Partners and former Miton multi-manager, said he hoped to see that number rise to at least 30 by launch.
Darius McDermott, managing director of Chelsea Financial Services, said: “We know from our own experience that investors need help to narrow down fund choices and are seeking guidance to help make their investment decisions.
“Increasingly, investors of all types are looking for reassurance that fund research is independent and not biased in any way. FundCalibre will be an invaluable web-based tool for these people.”