Rating Release

Agusto & Co. hereby affirms the AA(IM) rating assigned to Stanbic IBTC Asset Management Limited (“SIAML” or “the Manager”).

The rating expires on 31 December 2024.

Agusto & Co. affirms the AA(IM) rating assigned to Stanbic IBTC Asset Management Limited (“SIAML” or “the Manager”). The rating is upheld by the Manager’s good operational track record and membership of an established financial services group. The rating also reflects SIAML’s good risk management processes and very good investment performance of most of its collective schemes. However, the rating is constrained by the frequent staff exits from strategic roles. We have also taken into consideration the weak macroeconomic environment and its capacity to elevate investment and operational risks.