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Agusto & Co. has affirmed the ‘A+(f)’ rating assigned to Abacus Money Market Fund

RATING RELEASE

Agusto & Co. has affirmed the ‘A+(f)’ rating assigned to Abacus Money Market Fund.

The rating expires in December 2019

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

Abacus 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. Abacus MMF maintained 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 three occasions. Agusto & Co. will continue to monitor the Fund’s portfolio holdings to ensure greater compliance to regulatory guidelines and limits.

 

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.