Rating Release
Agusto & Co. hereby assigns a BBB+(IM) rating to FSDH Asset Management Limited (“FSDH AML” or “the Manager”).
The rating expires on 6 August 2025.
Agusto & Co. hereby assigns a ‘BBB+(IM)’ rating to FSDH Asset Management Limited (“FSDH AML” or “the Manager”). The rating reflects the Manager’s membership of an established financial services group, good governance structure and well-composed and experienced decision-making committees. However, the rating is constrained by FSDH AML’s limited research capabilities and insufficient adherence to investment risk guidelines. We note that the Manager breached its single obligor limits and exception protocol on six occasions during the review period. We have also taken into consideration the growing uncertainty in the macroeconomic environment, which has the potential to heighten investment and business risks.
