Agusto & Co, Nigeria’s Pan-AfricanCreditrating agency has affirmed the Aa-(f) ratings assigned to FBN Money Market Fund. The Mutual Fund managed by FBNQuest Asset Management, a subsidiary of FBN Holdings Limited
According to Agusto & Co, “The rating assigned to FBN Money Market Fund reflects minimal to low exposure to downside risk (impairment to the net asset value) in the medium term.
“During the surveillance period (November 2018 – November 2019), the Fund maintained relatively low exposure to credit risk. All investments were with counterparties Agusto & Co consider to be of investment-grade credit quality.
- Stock Market open 2020 with N266 billion gains in week One
- Term Deposit Vs Treasury Bills, Bansk Customer’s battle for Investment wisdom
- CBN makes clarification on the OMO Treasury Bills controversy
- Here are your options for Electronics Fund Transfer
- CBN to issue N847.4 billion worth of Treasury Bills in Q1 2020
“The management of liquidity risk remained satisfactory through an adherence to SEC’s 25% minimum asset allocation to FGN securities. FBN MMF also maintained staggered maturities and matched redemptions with inflows into the Fund, to manage liquidity risk. Exposure to interest rate was also low given that the Fund recorded no breaches to the weighted average maturity (WAM) threshold during the one-year review period“
The rating expires on 5 December 2020.
FBNQuest Asset Management’s distinctive heritage as an organisation allows it to leverage specialisation of the subsidiaries of its parent company to enhance delivery and provide world-class client solutions.
FBNQuest work to understand your specific needs, offering a range of investment products and services across various asset classes and sectors. From mutual funds to liquidity management, we work with individual and institutional investors to provide a strategy best suited to your investment goals and portfolios.