Rating Release
Agusto & Co. hereby upgrades the rating of Vetiva Money Market Fund to ‘A+(f)’.
The rating expires on 15 December 2023.
Agusto & Co. hereby upgrades the rating of Vetiva Money Market Fund (‘VMMF’ or ‘the Fund’) to ‘A+(f)’. The rating is upheld by the Fund’s consistent conservative approach to credit risk, with sizeable investments in FGN securities (Treasury Bills and promissory notes) despite the low yield environment. In addition, the rating reflects the low exposure to liquidity and interest rate risks. The rating is, however, constrained by concentration in the unitholding base and the limited functionality of the current software. We have also taken into consideration the impact of the weak macroeconomic environment on the Fund’s performance.