ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

Agusto upgrades EDC Nigeria Money Market Fund rating

by Usman Kadri
November 8, 2022
Reading Time: 2 mins read
Agusto upgrades EDC Nigeria Money Market Fund rating
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

Pan- African credit rating agency, Agusto & Co has upgraded the rating of EDC Nigeria Money Market Fund (‘EDC MMF’ or ‘the Fund’) to A(f). Funds rated ‘A(f)’ are deemed to have low to moderate exposure to downside risk, impairment of net asset value in the medium term.

EDC MMF unit trust scheme which was launched in February 2017 is being managed by EDC Fund Management Limited, a subsidiary of the Ecobank Group.

Agusto in its latest rating assessment report which covers the review period of August 2021 – August 2022 attributed the impressive performance to the Fund’s improved adherence to established guidelines, particularly in periods of significant asset growth as well as low exposure to credit and interest rate risks, adding that the rating also reflects the adequate internal credit assessments conducted on proposed counterparties and automated pre and post trade checks.

RELATED STORIES

Zenith Bank emerges Nigeria’s number one bank by Tier-1 Capital for the sixteenth consecutive year

Zenith Bank emerges Nigeria’s number one bank by Tier-1 Capital for the sixteenth consecutive year

July 4, 2025
Debunking money myths: Stanbic IBTC Asset Management empowers Nigerians with financial knowledge

Debunking money myths: Stanbic IBTC Asset Management empowers Nigerians with financial knowledge

July 3, 2025

The credible rating agency noted that “Overall, we considered EDC MMF’s exposure to credit and interest risk to be low. Its exposure to liquidity risk is also low to moderate the Fund’s investment. Risk management processes are adequate for the Fund’s operational level and it is growing net assets despite uncertainty in the macroeconomic environment .”

The high rating for EDC Nigeria Money Market Fund comes despite the nation’s weakening macroeconomic environment has the potential to heighten risk exposures and pressure investment performance, the report stated. It also identified challenges such as persistent depreciation of the nation’s Naira, and high inflationary trends would make holding investments in local currency unattractive and impact on the positive returns to unitholders.

Commenting, Mrs. Oluwayemisi Ogunmola, Managing Director of EDC Fund Management Limited, expressed excitement over the positive rating after holistic assessment of its operations by the globally recognized credit rating agency. She restated EDC’s commitment to ensure the Fund becomes the most preferred investment channel in the industry.

“This positive rating attest to the structures we have in place. Our remarkable performance in all the key rating indices shows that we are on the right path. We will continue to adhere to stipulated guidelines and regulatory requirements, settle redemption requests within 24-48 hours and make positive returns to unitholders despite the current harsh operating environment,” she stated.

EDC Fund Management Limited (‘EDC FML’ or ‘the Manager’) is the investment management subsidiary of  Ecobank Development Corporation. The Manager was established in 2012 and licensed by the Securities & Exchange Commission (SEC) to carry out fund and portfolio management activities in Nigeria.

EDC FML provides a broad range of advisory services including privatisation, mergers and acquisitions, structured trade financing, underwriting and syndication to sectors such as telecommunications, mining, transportation, power, oil and gas, construction and manufacturing.

Next Post
Alleged maltreatment: LIRS staff demand improved working condition

Alleged maltreatment: LIRS staff demand improved working condition

More Articles...

U.S court jails Edward Oluwasanmi over $4.2m scam

U.S court jails Edward Oluwasanmi over $4.2m scam

July 5, 2025
Adron Homes made my dream come true —New homeowner shares inspiring testimony

Adron Homes made my dream come true —New homeowner shares inspiring testimony

July 5, 2025
Natasha drags Akpabio to UN, exposes Senate President over alleged sexual harassment

BREAKING: Court Orders Senate to recall suspended Natasha Akpoti

July 4, 2025
Former Arsenal midfielder, Thomas Partey charged with rape

Former Arsenal midfielder, Thomas Partey charged with rape

July 4, 2025
Natasha: If anything happen to me, hold Akpabio,  Yahaya Bello, Ododo responsible

JUST IN: Court fines Senator Natasha ₦5 million for civil contempt

July 4, 2025
Real Estate industry experts, stakeholders raise alarm over building collapse in Lagos, seek urgent reforms

Real Estate industry experts, stakeholders raise alarm over building collapse in Lagos, seek urgent reforms

July 4, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport