Rating Release

Agusto & Co. affirms the ‘A+(f)’ rating assigned to AXA Mansard Money Market Fund.

The rating expires on 6 November 2023.

Agusto & Co. affirms the ‘A+(f)’ rating assigned to AXA Mansard Money Market Fund (‘AXA Mansard MMF’ or ‘the Fund’). The rating is upheld by the Fund’s low exposure to interest rate and liquidity risks. The rating is however constrained by the breach of the 25% minimum holding of Federal Government of Nigeria (FGN) issued securities as stipulated by SEC. We have also taken into consideration the impact of the weak macroeconomic environment on the Fund’s performance.