Agusto & Co. hereby affirms the BBB-(IM) rating to AVA Global Asset Managers Limited
The rating expires on 27 February 2023.
Agusto & Co affirms the BBB-(IM) rating assigned to AVA Global Asset Managers Limited (‘AVA GAM’ or ‘the Manager’). The rating is upheld by the Manager’s acceptable process for generating timely research, experienced decision-making committees and defined investment process with improved segregation of duties. However, the rating remains constrained by the weak ability of AVA GAM to adhere to established guidelines around credit risk management, limited capacity of the Manager’s portfolio management software and AVA GAM’s limited operational track of three years in the asset management industry. The rating also takes into consideration the weak macroeconomic environment which has heightened business and investment risk.