Rating Release
Agusto & Co. hereby affirms the A-(IM) rating assigned to FCMB Asset Management Limited (“FCMB AML” or “the Manager”).
The rating expires on 24 November 2025.
Agusto & Co. hereby affirms the A-(IM) rating assigned to FCMB Asset Management Limited (‘FCMB AML’ or ‘the Manager’). The rating reflects the Manager’s adequately experienced decision-making committees, good research capabilities and support from an established financial services group. The rating also reflects FCMB AML’s good operational track of 26 years in the asset management industry. However, the rating is impaired by the limited functionality of the current software and weak performance of its public collective investment schemes. We have also taken into consideration the familial relationship on the Board and the inadequate segregation of duties, with the Chief Executive Officer (CEO) still doubling as the Chief Investment Officer (CIO).
