Defaqto is launching a new rating service to help advisers assess early stage funds and portfolios that have yet to build up an established performance history.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said group revenue increased by 18.6% to £42.4m in the six months to the end of July.

Fund rating agency RSMR has announced new fund ratings for 24 funds, which it said are a mixture of active and passive funds and two multi-asset fund ranges.