Agusto & Co. assigns a fund credit quality rating of “A+(f)” and fund volatility rating of “FV5′ to Coronation Fixed Income Fund.

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Agusto & Co assigns A+(f) credit quality and FV5 volatility ratings to the Coronation Fixed Income Fund (“CFIF” or “the Fund”). The rating reflects the Fund’s adequate investment process, low exposure to credit and liquidity risks and moderate exposure to interest rate risk driven by investments in long-dated instruments.

This rating expires on 31 August 2021

In the review period (July 2019 – June 2020), Coronation Fixed Income Fund maintained a conservative investment approach with a significant share of net assets held in Federal Government of Nigeria (FGN) securities, which we consider to be of ‘Aaa’ credit quality in local currency.

Agusto & Co. assigns a fund credit quality rating of Af and fund volatility rating of FV5 to Coronation Fixed Income Fund

However, the Coronation Fixed Income Fund had some investments in counterparties that fell below Agusto & Co’s investment-grade credit quality.

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