NEWS


SMARTER MONEY FUND RATED ‘A’ BY AUSTRALIA RATINGS
Monday, September 28, 2015


 

Melbourne, 28 September 2015 – Australia Ratings has affirmed its credit rating of ‘A’ to the units issued by the Smarter Money Fund, formerly the Smarter Money Active Cash Fund, (the Fund). The credit rating of ‘A’ represents a high degree of creditworthiness on the rating scale used by Australia Ratings to assess the credit profile of a managed fund. The rating primarily reflects the credit quality of the Fund’s investments as well as the experience and skill of the investment manager, Smarter Money Investments.

Australia Ratings analyst Renee Corcoran said “the Smarter Money Fund has continued to pursue its investment objective through actively managing a liquid portfolio of fixed income securities that have a high degree of credit quality.” Corcoran also noted “investors in the Fund have a low exposure to volatility arising from changes in interest rates and the credit risk of the portfolio is restricted to investment grade securities.”

While the rating primarily reflects the credit quality of the assets of the Fund, Australia Ratings noted the stability of the investment team and the demonstrated track record of exceeding the investment objective of the Fund.

The units provide investors with a periodic distribution of income and a return of principal via a redemption request. Australia Ratings has also affirmed its Product Complexity Indicator of ‘BLUE” to the Fund’s units to indicate that an investment in the units represents a relatively straightforward type of fixed interest investment.

A full rating report is available from www.australiaratings.com.

For more information contact:

Chris Dalton, Managing Director chris.dalton@australiaratings.com 03 8080 6684


 

RATING OF MASON STEVENS CREDIT FUND AFFIRMED AT ‘BBB’ BY AUSTRALIA RATINGS
Monday, August 24, 2015


 

Melbourne, 24 August 2015 – Australia Ratings has affirmed its credit rating of ‘BBB’ to the units issued by the Mason Stevens Credit Fund (the Fund). A rating of ‘BBB’ indicates that the Fund has a moderate degree of protection against loss from credit risk on the rating scale used by Australia Ratings for income funds.

The rating primarily reflects the credit quality of the Fund’s investments as well as the experience and skill of the portfolio managers of Mason Stevens Asset Management Limited.

Mason Stevens Credit Fund was launched in 2013 and aims to generate a return of 3.5% above the Cash Rate by investing in securities that generate both income and yield. The units provide investors with a quarterly distribution of income and a return of principal via a redemption request.

Australia Ratings analyst Renee Corcoran said “investors in the Fund benefit from a diversified portfolio of debt securities across a range of maturities with the current portfolio being comprised of investment grade assets.” Corcoran also said “in the 12 months to 30 June, the Mason Stevens Credit Fund generated returns of 7.53%. During the year, the Fund increased its exposure to securities issued by Asian issuers. A majority of the Fund’s assets are held in Australian dollars and held across diversified assets classes including asset- backed, senior-unsecured floating rate notes, and tier 1 hybrids”.

Australia Ratings has also confirmed its Product Complexity Indicator of ‘YELLOW” to the Fund’s units to indicate that an investment in the units represents a complex of investment. The YELLOW indicator highlights two notable conditions. Firstly the Fund’s documentation allows for the use of derivatives and borrowing in the management of the Fund. Risk arising from the use of derivatives and borrowings will depend on the judgement of the Investment Manager. Secondly if redemptions are sought for over 20% of total units in any one month, the constitution of the Fund does permit redemptions to be spread over 3 months or in certain exceptional circumstances the Fund may defer redemption requests to manage its liquidity.

A full rating report is available from www.australiaratings.com.

For more information contact:

Chris Dalton, Managing Director chris.dalton@australiaratings.com 0403 584 600

03 8080 6684

 

SANDHURST STRATEGIC INCOME FUND RATING OF ‘A’ AFFIRMED BY AUSTRALIA RATINGS
Monday, June 01, 2015


Melbourne, 1 June 2015 – Australia Ratings has affirmed its credit rating of ‘A’ to the Class A and Class B units issued by the Sandhurst Strategic Income Fund (“the Fund”). A rating of ‘A’ represents that the Fund has a high degree of protection against loss from credit risk on the rating scale used by Australia Ratings for income funds. The rating primarily reflects the credit quality of the Fund’s investments as well as the experience and skill of the Funds Management division of Sandhurst Trustees Limited.

Sandhurst Strategic Income Fund was launched in July 2011 and is a product of Bendigo Wealth, part of the Bendigo and Adelaide Bank Group.

Australia Ratings analyst Chris Dalton said “Investors in the Fund benefit from a diversified portfolio of term deposits and debt securities across a range of maturities with the current portfolio being comprised of investment grade assets.” Dalton also said “in the 12 months to 30 April, the Sandhurst Strategic Income Fund generated returns of 3.29% compared to its benchmark of 2.67%. During the year Fund reduced its exposure to term deposits and invested a greater portion of funds in floating rate notes”.

The units provide investors with a quarterly distribution of income and a return of principal via a redemption request. Australia Ratings has also confirmed its Product Complexity Indicator of ‘BLUE” to the Fund’s units to indicate that an investment in the units represents a relatively straightforward type of fixed interest investment. The BLUE indicator highlights that in certain exceptional circumstances the Fund may defer redemption requests to manage its liquidity.

A full rating report is available from www.australiaratings.com/ratingsreports.

For more information contact:

Chris Dalton, Managing Director chris.dalton@australiaratings.com 0403 584 600

03 8080 6684

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