Senfin Dynamic Income Fund receives (SL) A mfs from ICRA Lanka

CEO Ineka Dunuwille

Fund Manager Ravinath Weerakoon

ICRA Lanka Ltd. has assigned a credit risk rating of (SL) A mfs (pronounced as Sri Lanka A mutual fund scheme) to the Senfin Dynamic Income Fund which is managed by Senfin Asset Management Ltd.  

Senfin Dynamic Income Fund is an open-ended unit trust fund licensed by the Securities and Exchange Commission of Sri Lanka (SEC). The Fund was launched in February 2021 and invests in Treasury Securities, Corporate Debentures, Commercial Papers, Trust Certificates, Repurchase Agreements of both Government securities and Corporate Securities, Deposits in Licensed Commercial Banks, Licensed Specialised Banks and Non-Bank Financial Institutions. 

Senfin Asset Management in a statement said the Senfin Dynamic Income Fund can also invest in other short-term and long-term fixed income securities issued by financial and non-financial entities. The objective of the Fund is to maximise returns through the active investment in short term as well as long term time horizons. The fund maintains a secondary objective to provide an annual dividend to unitholders. The Fund’s Trustee is Hatton National Bank PLC. 

Senfin Asset Management Ltd. CEO Ineka Dunuwille speaking on the rating says that the ICRA ‘A’ rating reflects the prudent risk management policies adopted by the Fund and the superior credit quality of the portfolio. The Senfin Dynamic Income Fund invests only in securities that are rated investment grade (BBB-) or higher by Independent Rating Agencies such as Fitch and ICRA. 

Moreover, the Fund Manager of the Senfin Dynamic Income Fund, Ravinath Weerakoon mentions that investments in the Fund take into consideration group exposure limits, ensuring that the Fund’s investments are not over-exposed to any one Group. He further states that the Fund is tailored to suit investors who want exposure to a long-term income fund. The Year-To-Date yield of the Fund as at 22nd November 2021 was 7.73% p.a. 

Senfin Asset Management Ltd. is a fully-owned subsidiary of Senkadagala Finance PLC. Senfin Asset Management encourages investors to read the full rating rationale report by ICRA at https://www.icralanka.com prior to investing.