JB Financial (Pvt) Ltd, a specialist asset manager, investing in a range of investment grade debt instruments, equity and gilt-edged securities received a credit risk rating of [SL]A+ mfs (pronounced as Sri Lanka A plus m f s) for its JB Vantage Money Market Fund (JBMMF) recently from ICRA Lanka Limited.
The fund is the second largest Money Market Fund in terms of assets under management (AUM) in Sri Lanka with Rs.18.82 billion as at December 2020.
The fund was initiated on August 4, 2011 and has been in existence for nearly a decade consistently outperforming the benchmark (NDBIB CRISIL91-day T-bill Index).
Christine Dias Bandaranaike (CFA), CEO of JB Financial (Pvt) Ltd and Fund Manager of the JBMMF said, “The rating reflects our solid position as a leading specialist investment manager. We have over the past few years grown the Fund’s AUM while maintaining a robust risk management framework and sound financial metrics in line with the investment mandate.”
“The rating further signifies the relative prudence of the fund which only invests in companies which are willing to subject themselves to an external rating and are therefore transparent with their financials.
As part of ourinvestment mandate, we only invest in companies that are considered Investment Grade, that is rated BBB- and higher by an external rating agency. Investments in the BBB rated category is further restricted up to an average of 30%, while the remaining is invested in A rated and above companies in order to manage and mitigate credit risk more prudentially.”
Deutsche Bank AG acts as the trustee of the JBMMF, and ensures that the fund manager operates according to the investment mandate to achieve the goals and objectives while safeguarding investors’ interests. The fund is regulated by the Securities and Exchange Commission on a regular basis to ensure compliance with regulatory requirements.
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