Agusto & Co. affirms the BBB(IM) rating assigned to Growth & Development Asset Management Limited, with a stable outlook.
The rating expires on 31 December 2022.
Agusto & Co. affirms the BBB(IM) rating assigned to Growth & Development Asset Management Limited (“GDL AML” or “the Manager”). The rating reflects the Manager’s well-composed and experienced decision-making committees, defined process for generating adequate research and good operational risk management processes. However, the rating is impaired by the limited experience of the research team with GDL AML, multiple exits of key personnel and the manual risk management surveillance system. We have also taken into consideration the growing uncertainty in the macroeconomic environment which has the potential to elevate investment and business risks.