Rating Release
Agusto & Co. hereby affirms the A(f) rating of Meristem Money Market Fund
The rating expires on 3 December 2024
Agusto & Co affirms the ‘A(f)’ rating assigned to Meristem Money Market Fund (‘Meristem MMF’ or ‘the Fund’). The rating reflects the Fund’s low exposure to interest rate and liquidity risks. The rating is also upheld by the Manager’s membership of an established financial services group. However, the rating is impaired by breaches in asset allocation guidelines and the limited functionality of the current software for pre-trade checks. We have also taken into consideration the Fund’s growing exposure to securities at the lower end of the acceptable rating scale, which we consider to have moderate exposure to credit risk.
