Rating Release

Agusto & Co. hereby assigns a ‘BBB(IM)’ rating to FSL Asset Management Limited.

The rating expires on 1 July 2027

Agusto & Co. hereby assigns a ‘BBB(IM)’ rating to FSL Asset Management Limited (“FSL AML” or “the Manager”). The rating reflects FSL AML’s experienced investment committee members, defined decision-making process, and good performance of the Manager’s collective investment schemes. The rating is also supported by FSL AML’s membership of an established financial services group with a track record spanning three decades. However, the rating is constrained by the lean structure of the research, investment, operations, and risk management teams. We have also taken into consideration the sub-optimal segregation of duties, with the Managing Director doubling as the Chief Investment Officer.