image

Agusto & Co. has affirmed the ‘Aa(f)’ rating assigned to First Trustees ARM Money Market Fund

Rating release

Agusto & Co. has affirmed the ‘Aa(f)’ rating assigned to First Trustees ARM Money Market Fund.

The rating expires on 30 November 2019

The rating assigned to First Trustees ARM Money Market Fund (‘ARM MMF’ or ‘the Fund’) reflects the Fund’s minimal to low exposure to downside risk (impairment to the net asset value) in the medium term.

ARM MMF has maintained low exposure to credit risk by investing in good quality assets with a minimum credit rating of ‘Bbb’ in local currency. The Fund’s liquidity is largely supported by cash holdings of up to 5% of net assets, call deposits and investing at least 25% of net assets in liquid FGN securities. ARM MMFmaintained the required maximum term to maturity of less than a year for all investments but breached the regulatory 90-day limit for weighted average maturity on two occasions.

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.

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.