Rating Release

Agusto & Co. hereby affirms the A-(IM) rating assigned to Afrinvest Asset Management Limited

The rating expires on 3 December 2024.

Agusto & Co. affirms the ‘A-(IM)’ rating assigned to Afrinvest Asset Management Limited (‘AAML’ or ‘Afrinvest AML’ or ‘the Manager’). The rating reflects the Manager’s greater adherence to credit risk guidelines and good fund performance of three of four collective investment schemes. The rating is also upheld by Afrinvest AML’s membership of an established financial services group, good governance structure, and well-composed and experienced decision-making committees. However, the rating is constrained by the limited automation of pre-trade checks and the lack of succession in key roles of the Manager.