A global classification system

FIDA is one of the European leading providers of investment fund data and analysis and is a dominant supplier of fund data in Italy.

Professional investors rely on FIDA for accurate information on all aspects of fund performance.

The FIDArating system is a process of financial analysis based on a qualitative and quantitative mix. The process consists of three steps that correspond to different types of activities and outputs:

  • Classification
  • Categorization
  • Scoring & Rating

A global classification system 

Except some inevitable and distinctive characteristics of each type of financial instrument that affect the three phases of the process, the BRating classification system is general and applied in the same way to all financial instruments.

This feature makes the system extremely suitable for portfolio analysis and research, and security selection.

This step consists in investigating the main investment characteristics of financial instruments.

The model is unique, all types of financial instruments are classified according to the same theoretical framework.

Because of the difference between types of assets, the object of the analysis can vary without compromising the overall coherence. For example, the asset management analysis in mutual funds refers to the investment policy, while in indexes, similarly, it refers to their components and in stocks, it concerns themselves.

It is the construction of homogeneous groups of instruments that are sufficiently numerous and interesting for financial markets. Financial instruments are therefore included within the same category if they show similarities with respect to the classification process (and / or other characteristics) that make them uniform and comparable.

Each category has a specific benchmark. A single market index or a composite one is chosen to represent its historical trend.

The Rating evaluation method is aimed to order the instruments within their universe of reference. The Population of each category, ordered by a proprietary risk-reward indicator (score), is divided into five percentiles.

Rating analysis are monthly updated according to the last price data of the referring month.


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