​The EFG Hermes Middle East and Developing Africa Fund (MEDA), managed by leading regional investment bank EFG Hermes has been granted an 'AA' rating by Standard & Poor's - the world's foremost provider of independent credit ratings, indices, risk evaluation, data and valuations. With a distinguished track record dating to 1999, the EFG Hermes MEDA Fund has achieved a 25.2% year-to-date (YTD) return and is one of the best performing funds in the region. In its report on the fund Standard and Poor’s expresses the opinion that, 'the fund is among the very few in the region with a track record that spans over five years and it has achieved very strong performance across a variety of markets,' and concludes with '(it) comfortably achieves a AA rating.' In addition, the EFG Hermes Telecom Fund achieved a Standard & Poor’s 'A' rating. Launched in 2000, the EFG Hermes Telecom Fund is focused on long term capital appreciation though investments in telecommunications, media, and technology-related companies in the Middle East and Africa, and has achieved a 22.1% YTD return. In September 2007, the EFG Hermes Egypt Fund, listed by the International Herald Tribune as the best performing Fund worldwide for three consecutive years, was also granted an 'AA' rating by Standard & Poor's.