Agusto & Co. hereby upgrades the rating of United Capital Money Market Fund to A(f)
The rating expires on 14 July 2023.
Agusto & Co. upgrades the rating of United Capital Money Market Fund (‘UCMMF’ or ‘the Fund’) to A(f). The rating is upheld by the Fund’s stronger adherence to regulatory limits despite significant asset growth. The rating reflects UCMMF’s low exposure to liquidity and interest rate risks. We have also taken into consideration the weaker macroeconomic environment and prevailing low yield environment and the impact these have had on the credit risk profile of collective investment schemes, as fund managers attempt to optimise returns in an increasingly competitive environment.