Agusto & Co. has affirmed the ‘BBB(IM)’ rating of Growth and Development Asset Management Limited (GDL)
The rating expired on 14 June 2019.
Growth and Development Asset Management Limited, previously known as Express Discount Asset Management Limited (EDAM), is a wholly owned subsidiary of GDL Holding Company.
GDL provides a variety of financial services including discretionary and non-discretionary portfolio management to retail and institutional investors; as well as client advisory services for high net-worth individuals.
“The rating is supported by the manager’s experienced and qualified decision-making committees, well established process for generation of research output and active monitoring of operational events and transactions.
“The rating is, however, constrained by key man risk within the compliance unit and the relatively manual risk monitoring process,” it add.