Rating Release

Agusto & Co hereby upgrades the rating assigned to CardinalStone Money Market Fund to ‘A+(f)’.

The rating expires on 11 August 2027

Agusto & Co hereby upgrades the rating assigned to CardinalStone Money Market Fund (‘CardinalStone MMF’ or ‘the Fund’) to ‘A+(f)’. The rating reflects CardinalStone MMF’s continued conservative asset allocation strategy, with an average of 14% of net assets allocated to securities at the lower end of the acceptable rating scale in the last two review periods, well below our benchmark of 30% for funds in the A(f) category.  The rating also reflects the Fund’s low exposure to liquidity and interest rate risks. We have also taken into consideration the Fund Manager’s well-established investment and risk management processes and membership of a reputable non-bank financial services group. Nonetheless, the rating is constrained by CardinalStone MMF’s breaches of the regulatory weighted average maturity requirement on two occasions during the review period.