Rating Release

Agusto & Co. hereby affirms the BBB(IM) rating assigned to AVA Global Asset Managers Limited

The rating expires on 28 February 2025.

Agusto & Co. hereby affirms the ‘BBB(IM)’ rating assigned to AVA Global Asset Managers Limited (‘AVA GAM’ or ‘the Manager’). The rating is upheld by the Manager’s adherence to internal investment guidelines, experienced decision-making committees and adequate segregation of duties. The rating is, however, impaired by the Board composition that can be enhanced with the appointment of an additional independent member. We have also taken into consideration the impact of the weak macroeconomic environment and its potential to heighten investment and operational risks.