Agusto & Co. hereby affirms the A+(f) rating of Legacy Money Market Fund.
The rating expires on 4 September 2023.
Agusto & Co hereby affirms the A+(f) rating assigned to Legacy Money Market Fund (‘Legacy MMF’ or ‘the Fund’). The rating is upheld by the Fund’s low exposure to credit, liquidity and interest rate risks. The rating also reflects the satisfactory internal credit evaluation of counterparties as well as support from the FCMB group. Nonetheless, the rating is impaired by the limited functionality of the fund management software to conduct pre-trade reviews. We have also considered the waning macroeconomic environment, which has the potential to heighten risk exposures and constrain investment performance.