Rating Release
Agusto & Co. hereby upgrades the rating of GDL Asset Management Limited to BBB+(IM)
The rating expires on 31 December 2023.
Agusto & Co. hereby upgrades the rating of Growth & Development Asset Management Limited (“GDL AML” or “the Manager”) to BBB+(IM). The rating reflects improvements in the Manager’s risk management monitoring system and better adherence to internal credit limits. The rating is also upheld by the Manager’s adequately composed and experienced decision-making committees, well-established processes for generating good quality research and the recruitment of qualified personnel despite the high attrition rate plaguing the asset management industry.
However, the rating is constrained by the familial relationships on the board of directors and the manual onboarding process for clientele. We have also taken into consideration the growing uncertainty in the macroeconomic environment, which has the potential to dampen investment performance and heighten business risks.
