Rating Release
Agusto & Co. hereby affirms the AA(IM) rating to ARM Investment Managers Limited
The rating expires on 26 July 2024.
Agusto & Co. hereby affirms the AA(IM) rating assigned to ARM Investment Managers Limited (‘ARM IM’ or ‘the Manager’). The rating reflects the Manager’s improved Board composition, good operational track record and membership of an established financial services group. The rating is also upheld by ARM IM’s well-composed and experienced decision-making committees, adequate segregation of duties and multi-layered approvals for investments. However, the rating is constrained by the recurring turnover in the investment management team, primarily attributable to the adverse socio-economic conditions leading to widespread emigration among Nigeria’s skilled workforce. We have also taken into consideration the growing uncertainty in the macroeconomic environment, which has the potential to heighten investment and business risks.
