Agusto & Co, a leading credit rating agency in Nigeria, has assigned a BBB+(f) rating to Norrenberger’s Money Market Fund.
This rating was awarded based on the Fund’s low exposure to liquidity and interest rate risks as well as its satisfactory internal credit evaluation process for investment. The rating is coming despite the deteriorating macroeconomic environment.
Speaking on the latest rating, the Business Head of Asset Management, Abigail Utomi, said, “Norrenberger is honoured to have received the Bbb+(f) rating from Agusto & Co. for the Money Market Fund, being relatively new to the market.” She further opined that a Bbb+(f) rating is a testament to Norrenberger’s commitment to providing reliable wealth creation opportunities to clients despite uncertainties and is a step towards becoming the go-to investment for discerning investors in the market.”
The Norrenberger Money Market fund is a collective investment scheme registered with the Securities and Exchange Commission (SEC). The Fund seeks to provide capital preservation & stable yet competitive investment returns for investors investing in the money market. It invests in Nigerian short-term money market instruments such as Federal Government Treasury Bills, Bankers’ Acceptance, Commercial Papers, and Certificates of Deposit. The Fund was launched in July 2021.
Earlier in the year, Agusto & Co. rated Norrenberger Investment & Capital Management Limited (NICML) as a BBB- Investment Manager. The rating agency considers NICML to have adequate investment and risk management capabilities.
