FBNQuest Asset Management, a subsidiary of FBNQuest Merchant Bank and member of FBN Holdings Group, has been rated an A+ (IM) rating by Agusto & Co. a foremost rating agency in Nigeria.
The rating is due to the Fund Manager’s strong operational track record in the Asset Management industry, driven by well-composed and experienced decision-making committees and qualified, long-serving experts.
FBNQuest Asset Management Limited is one of the largest asset managers in Nigeria, promoting and managing several collective investment schemes and discretionary client portfolios to deliver high-end financial investment products and services.
Agusto & Co. also affirmed the Aa-(f) rating assigned to the FBN Money Market Fund.
The rating is upheld by the Fund’s improved adherence to regulatory requirements, good investment process and low exposure to liquidity and interest rate risks.
The rating also reflects the adequate internal credit assessments conducted on proposed counterparties. The FBN Money Market Fund is a collective investment scheme which was launched in September 2012, and is one of the largest funds amongst publicly listed money market funds, with net assets in excess of ₦157.8 billion as at November 2022.
Speaking on the rating, the Managing Director of FBNQuest Asset Management, Ike Onyia, stated, “We are elated to have been assigned an A+ (IM) and Aa-(f) rating for the FBN Money Market Fund by Agusto & Co. despite the constraints in the macroeconomic environment, we aim to keep providing excellent and high- quality investment services to our clients”.
Agusto & Co is a Pan African leader in credit ratings and credit reports. They have assigned well over 1,500 ratings across various sectors, and their ratings are accepted globally with a wide client base utilizing their ratings as a benchmark to measure business success.
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