Rating Release
Agusto & Co. hereby upgrades the rating assigned to First Asset Money Market Fund to Aa-(f)
The rating expires on 22 December 2026
Agusto & Co hereby upgrades the rating of First Asset Money Market Fund (‘FA MMF’ or ‘the Fund’), formerly FBN Money Market Fund, to ‘Aa-(f)’. The rating reflects improvements in the Fund’s asset allocation with a lower 26% of net assets held in moderate risk instruments (prior review period: 41%). The rating also reflects FA MMF’s continued low exposure to liquidity and interest rate risk, as well as the fund manager’s (“FirstAsset” or “the Manager”) good operational track record and membership of an established financial services group. The rating is constrained by the Fund’s exposure to a counterparty that falls outside acceptable money market parameters. This exposure represented an average of 1% of the portfolio during the review period. Nonetheless, we recognise that the Manager has exited this position as of 12 December 2025.