Agusto & Co. affirms the ‘A+(f)’ rating assigned to Chapel Hill Denham Money Market Fund
The rating expires 16 March 2023.
Agusto & Co. affirms the ‘A+(f)’ rating assigned to Chapel Hill Denham Money Market Fund (‘CHD MMF’ or ‘the Fund’). The rating reflects the Fund’s low exposure to credit, interest rate and liquidity risks. In addition, the rating is supported by the satisfactory internal credit assessment of obligors and the well-established investment process of the Manager. However, the rating remains constrained by the limited automation of risk management processes around CHD MMF such as conducting pre-trade checks. We have also considered the impact of the weakening macroeconomic environment on the Fund’s growth.