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| Managed Fund Ratings Assigned |
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FIXED INCOME MANAGED FUNDS RATED BY AUSTRALIA RATINGS
Melbourne, Friday, 9 May 2013 – Australia Ratings has recently assigned ratings to the following two fixed income funds:
- A rating of 'A' and a Product Complexity Indicator of 'Blue' has been assigned to the Class A and Class B units of the Sandhurst Strategic Income Fund.
- A rating of 'BBB' and a Product Complexity Indicator of 'Yellow' has been assigned to the units of the Mason Stevens Credit Fund.
The rating of ‘A’ of the units of the Sandhurst Strategic Income Fund represents that the fund has a high degree of protection against loss from credit risk on the rating scale used by Australia Ratings for fixed 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. The Sandhurst Strategic Income Fund was launched in July 2011 and is a product of Bendigo Wealth, part of the Bendigo and Adelaide Bank Group. The units provide investors with a quarterly distribution of income and a return of principal via a redemption request. Australia Ratings has also assigned 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 'BBB' rating and Product Complexity Indicator of 'Yellow" assigned to the Mason Stevens Credit Fund represents a that the fund has a moderate level of protection against loss from credit risk on the Australia Ratings scale for fixed income funds. The Mason Stevens Credit Fund is a new retail fund and follows the successful establishment of a similar wholesale fund managed by Mason Stevens. The rating of the Mason Stevens Credit Fund reflects the target credit quality profile of the fund and the skills and experience of the investment managers. The 'Yellow' Product Complexity Indicator reflects the flexibility the investment policy provides to permit the purchase of securities denominated in currencies other than Australian dollars and the use of derivatives to manage risks in the portfolio.
Also the 'A' rating and Product Complexity Indicator of 'Blue' of the units issued by the Challenger Guaranteed Income Fund have been affirmed following a review of the fund and Challenger Life Limited.
For more information contact:
Chris Dalton, 0403 584 600, chris.dalton@australiaratings.com
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