Fitch Ratings has assigned “Excellent” score to the Moroccan fund CDG Capital Gestion, with a stable outlook. This top rating has been awarded to the fund due to its broad stability and its best investment resources organization.
According to Fitch analysts, the “Excellent” mark of CDG Capital Gestion is driven by “its highly disciplined investment process, the strength of its risk management framework and the interaction of its human and technological resources”.
Fitch has increased the score for Investment Performance in recognition of the high proportion of the Moroccan fund outperforming peers’ on both a nominal and risk-adjusted basis.
CDG Capital Gestion’s investment objectives and strategies are well-defined, focusing on the fixed income market (91 pc of assets under management as of end-2018).
The investment process is driven by macroeconomic and fundamental considerations. Once the target portfolio is set, the team works on portfolio construction based on a qualitative and quantitative process, including stress tests. Portfolios are monitored during weekly and monthly committees. The other strategies are equity, international and structured funds.
The fund’s investment capabilities remain largely intact, reflecting an investment team with one of the longest experience in Morocco. CDG Capital Gestion is currently improving its business intelligence capacities to support its investment process.
It is one of the first companies to have an independent risk management team in Morocco.