Rating Release

Agusto & Co. hereby affirms the A+(IM) rating assigned to FBNQuest Asset Management Limited

The rating expires on 31 December 2025

Agusto & Co. hereby affirms the ‘A+(IM)’ rating assigned to FBNQuest Asset Management Limited (‘FBNQuest AML’ or ‘the Manager’). The rating is upheld by the Manager’s good operational track and membership of an established financial services group. The rating also reflects FBNQuest AML’s well-experienced decision-making committees and long-serving employees at the senior level. However, we have also taken into consideration the disruptions to FBNQuest AML’s operations, governance and ownership following the divestment of FBNQuest Merchant Bank, the erstwhile Parent of the Manager, from the FBN Holding Group (‘the Group’). Nonetheless, we believe these disruptions will be short-lived, given that FBNQuest AML has begun building internal capacity that was lost in the sale while leveraging the competencies of the Group.