Agusto & Co. affirms the Aa(f) rating assigned to Stanbic IBTC Money Market Fund (‘SIMMF’ or the ‘Fund’). Funds rated ‘Aa(f)’ are deemed to have minimal to low exposure to downside risk (impairment to the net asset value) in the medium term.
The rating expires on 31 December 2019.
SIMMF’s rating reflects the stability of the Fund’s credit, market and liquidity profile, based on surveillance data provided to Agusto & Co over the last 12 months. The Manager, Stanbic IBTC Asset Management Limited (‘SIAML’) a wholly owned subsidiary of Stanbic IBTC Holdings Plc has also demonstrated good track in asset management as SIMMF remains the largest money market fund in Nigeria with a net asset value (NAV) of ₦228 billion as at 5 January 2019.
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