Alternative Investments

Scope provides investors with in-depth analyses of open- and closed-ended alternative investment funds. Scope's rating analysis focuses on the underlying asset itself, drawing on 15 years of experience in rating funds in the real-estate, infrastructure and transport segments. Its long-standing expertise gives it a broad overview of the whole sector. These analyses are supplemented by asset management evaluations carried out by the agency's management rating experts. The methodologies applied to all types of funds incorporate both quantitative and qualitative criteria, with an emphasis on transparency, whether regarding key assumptions, the rating drivers or the methodologies themselves.

Types of funds rated:

Debt funds

Scope has been rating debt funds since 2013 when the market for such funds firmly established itself. Scope's dedicated debt fund methodology describes the agency's analytical approach to rating and monitoring debt funds' average credit quality, expressed as the funds' expected loss over its weighted average life. The rating takes into account general characteristics of individual assets and the portfolio as a whole. For portfolios where the manager has discretionary trading capabilities, Scope will consider the current or deemed Asset Management Rating (AMR) of the debt fund manager in the context of a fund's investment and eligibility criteria.