Agusto & Co affirms “Aa(f)” fund risk rating for Stanbic IBTC Money Market Fund. This rating expires 31 August 2017.
Agusto & Co has affirmed the “Aa(f)” fund risk rating assigned to Stanbic IBTC Money Market Fund (‘SIMMF’ or ‘the Fund’). Funds rated ‘Aa(f)’ are deemed to have minimal to low exposure to downside risk (loss in net asset value) in the medium term.
The rating is supported by SIMMF’s conservative exposure to credit, interest rate and liquidity risk. All investments are at least equivalent to Agusto & Co’s investment grade credit quality (i.e. Agusto & Co. Bbb or better), with 48% of assets invested in Federal Government securities – which we consider to be of “Aaa” credit quality.
SIMMF also has conservative investment guidelines for managing interest rate and liquidity risk - with a target maximum portfolio weighted average maturity of 90 days, and all investments maturing within 366 days.
SIMMF has a capable investment management team with an average of 11 years of financial services experience. The Fund’s investment process is well established, with a good track record of fund management. In addition, the Manager has acquired the Bloomberg software which automates the risk management function of performing pre-trade checks and checking limits.
Notes to release
A FUND RISK rating of “Aa(f)” indicates a Fund with minimal to low exposure to downside risk (impairment to the net asset value) in the medium term.
Agusto & Co reviews the holdings report of the Fund on at least a monthly basis, and may revise the Fund Risk rating in the event there is a change in the Risk profile of the portfolio of assets.
The opinions expressed in this rating release do not represent investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information
This rating release is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit given to Agusto & Co.