Agusto & Co. affirms the A(f) rating assigned to First Ally Money Market Fund (‘First Ally MMF’ or ‘the Fund’).
The rating expires on 12 March 2022
The rating reflects the Fund’s low exposure to credit, interest rate and liquidity risks as well as the implementation of a new software (Symplus) which enhanced First Ally MMF’s investment process during the review period. However, the rating is constrained by the breaches in the stipulated minimum weighted average maturity (WAM) in the first quarter of 2020. The assigned rating also takes into cognisance the weakening macroeconomic environment and its impact on the Fund.