We are pleased to announce that we have awarded an A rating to the Man GLG Innovation Equity Alternative fund. This fund is a rare example in the IA Targeted Absolute Return sector of a highly-hedged equity long/short fund in which net market exposure is maintained at a low level in order to minimise directional stock market risk. The manager has a good track record of generating returns on both long and short investments, and the fund should have a low correlation with global stock market indices.