Rating Release
Agusto & Co hereby assigns an A-(IM) rating to Coronation Asset Management Limited (‘the Manager’ or ‘CAML’).
The rating expires on 23 September 2022
Agusto & Co hereby assigns an A-(IM) rating to Coronation Asset Management Limited (‘the Manager’ or ‘CAML’). The rating is upheld by the Manager’s qualified and experienced decision-making committees, a well-defined process for decision making with multi-layered approvals and oversight and adequately documented manuals and policies. The rating is, however, constrained by a very lean organisational structure characterised by the absence of an internal control team and understaffed risk management and compliance teams. We have also taken into consideration the Manager’s high staff turnover across key functions, particularly investment management and the volatile macroeconomic environment which has the potential to heighten business and investment risk