Agusto & Co. hereby affirms the A+(f) fund credit quality and FV4 fund volatility rating of Coronation Fixed Income Fund
The rating expires on 19 February 2024
Agusto & Co. hereby affirms the A+(f) fund credit quality rating and FV4 fund volatility rating assigned to Coronation Fixed Income Fund (“Coronation FIF” or “CFIF” or “the Fund”). The Fund’s credit quality rating reflects CFIF’s consistently low exposure to credit risk, with an average of 72% of net assets held in government securities in the review period.
The fund volatility rating is upheld by Coronation FIF’s satisfactory liquidity profile and moderate exposure to interest rate risk. However, the rating is impaired by a weakened risk management structure given the limited manpower to provide adequate oversight of key parameters.