Agusto & Co. affirms the ‘A+(f)’ rating assigned to Meristem Money Market Fund (‘Meristem MMF’ or the Fund’).

Rating Category: Funds

Agusto & Co. affirms the ‘A+(f)’ rating assigned to Meristem Money Market Fund (‘Meristem MMF’ or the Fund’).

Rating Release

Agusto & Co. affirms the ‘A+(f)’ rating assigned to Meristem Money Market Fund (‘Meristem MMF’ or the Fund’).

The rating expires on 13 December 2022.

Agusto & Co. affirms the ‘A+(f)’ rating assigned to Meristem Money Market Fund (‘Meristem MMF’ or the Fund’). The rating is reflective of the Fund’s low exposure to credit, interest rate and liquidity risks during the review period (December 2020 – November 2021). However, the rating is constrained by the Fund’s contravention of the stipulated 90-day weighted average maturity (WAM) limit on four occasions as well as the breach of the 25% minimum investment in Federal Government of Nigeria (FGN) securities on three occasions during the review period. We have also taken into consideration the weakening macroeconomic environment and the impact of the low yield environment on the Fund.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.
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