Invest Money Market Fund rated [SL] A mfs by ICRA | Daily News

Invest Money Market Fund rated [SL] A mfs by ICRA

Softlogic Invest Money Market Fund has been assigned a rating of “[SL] A mfs” (Sri Lanka A rated mutual fund scheme) by ICRA Lanka Limited.

The fund that commenced operations in July 2020 has performed well despite the obstacles of the pandemic and as of March 25, 2021, the Softlogic Money Market Fund has surpassed Rs. 1.5 billion in Assets under Management with over 1,300 unit holders, delivering an annualized current yield of 7.40%. These returns are delivered while maintaining over 80% in category A investments, which include A, A-,AA+ instruments.

“We are delighted that as a brand new entrant to the Unit Trust Mutual Fund business, the Softlogic Money Market Fund received an exceptional rating of ICRA SL A. When managing external funds we felt that showing return against risk is imperative to prospective investors as pure-play yield comparison is simply not informative enough to our investor base. We are keen on educating our investors on the value, transparency and significance of this external rating by ICRA through all our client communications,” stated Softlogic Invest Chief Executive Officer and Director Niloo Jayatilake.

Therefore, our investors enjoy optimum yield compared to traditional NBFI fixed deposit rates whilst enjoying the flexibility of withdrawal at any time they want without any charges.

We believe that customer convenience and access to funds is paramount to grow Industry volumes.” ICRA Lanka’s mutual fund rating methodology is based on evaluating the inherent credit quality of the fund’s portfolio. Schemes with this rating are considered to have adequate degree of safety regarding timely receipt of payments from the investments that they have made.