Nigeria’s foremost investment fund, SFS Fixed Income Fund, has been rated AA by DataPro, a Lagos-based rating agency.
DataPro in a recent rating report highlights good credit quality, good liquidity and experienced fund managers as key strengths of the N2.2 billion-worth Fund, which has grown from a base point of N960 million in 2015.
SFS Fixed Income Fund, an open-ended collective investment scheme launched in May 2014 and registered by the Securities and Exchanges Commission (SEC), is managed by SFS Capital Nigeria Limited. It is targeted at investors with low risks investment appetite who require liquidity and optimal benefits for their investments.
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The long-term rating of AA indicates lower risk and is assigned to Funds deemed to have very good financial strength, operating performance and profile.
In arriving at the score, DataPro took cognisance of relevant qualitative and quantitative factors to arrive at the assigned risk factor, with risk factors assessed by considering the credit risks, interest rate risk, liquidity risk, regulatory framework, and the operating performance of the manager.
“This Fund, in our opinion, has strong ability to meet its ongoing obligations,” Oladele Adeoye, chief rating officer, DataPro, said.
Aside the fund managers, other parties to the fund are: United Securities Limited (Registrar); Stanbic IBTC Bank plc (Custodian), STL Trustees Limited, and Sterling Partners & Co (Auditors).
