Rating Release

Agusto & Co affirms the “A(IM)” Investment Manager Rating assigned to Chapel Hill Denham Management Limited.

The rating expires on 30 October 2019.

Agusto & Co affirms the ‘A(IM)’ rating assigned to Chapel Hill Denham Management Limited (“Chapel Hill” or “the Manager”). This rating reflects Chapel Hill’s robust investment approval structure, supported by four well constituted Investment Committees and an Advisory Board. The rating also takes into cognisance the quality of the Manager’s Investment and Research Teams, which are adequately staffed and supported by sound analytical system. The rating is however constrained by Chapel Hill’s managerial structure that we believe does not provide adequate oversight to optimally support the activities of Chapel Hill Denham Management Limited. In addition, attrition rate within the Investment Management Team was higher than our expectation.