Agusto & Co. hereby upgrades the rating of Alpha Morgan Capital Managers Limited to BBB(IM)
The rating expires on 14 September 2023.
Agusto & Co. upgrades the rating of Alpha Morgan Capital Managers Limited (‘Alpha Morgan’ or ‘the Manager’) to BBB(IM). The rating reflects the strengthened Board of the Manager with the inclusion of an independent Non-Executive Director, the introduction of a dedicated internal audit team and improved documentation of operational risk management policies and procedures. The rating also portrays the well-composed and experienced decision-making committee, as well as the defined process for generating good quality research output. However, the rating remains constrained by the largely manual risk surveillance process and the absence of dedicated internal control personnel. We have also considered the impact of the volatile macroeconomic environment that has the potential to heighten business and investment risks.