Lanka Rating Agency assigns ‘A+ (f)’ stability rating to Astrue Money Market Fund

Lanka Rating Agency Ltd., Chief Executive OfficerDr. Kenneth De Zilwa (right) with Asset Trust Management CEO Indulekha Karunarathne

Lanka Rating Agency Ltd. (LRA) has assigned an initial fund stability rating of ‘A+ (f)’ with a Stable Outlook to the Astrue Money Market Fund, managed by Asset Trust Management Ltd.

The ‘A+ (f)’ rating reflects the Fund’s strong capacity to maintain relative stability in returns, underpinned by a prudent investment framework, high credit quality allocation, and disciplined fund management practices.

Launched in 2024, the Astrue Money Market Fund seeks to preserve capital, maintain stable Net Asset Value (NAV) growth, provide high liquidity, and deliver regular income to investors through investments in high-quality, short-term money market instruments with maturities not exceeding 397 days. As of May 2025, over 73% of the Fund’s assets are allocated to AAA-rated securities, with a Weighted Average Maturity (WAM) of 293 days and portfolio duration of 312 days. 

The Fund’s asset allocation remains diversified across Treasury Bills (46.6%), reverse repos against Government securities (20.16%), placements in Non-Banking Financial Institutions (13.26%), and smaller exposures to Treasury Bonds, Trust Certificates, and Commercial Papers. Returns over the past year have been broadly in line with peers, with performance supported by disciplined risk management amidst a declining interest rate environment.

Asset Trust Management Ltd., Chief Executive Officer Indulekha Karunarathne said: “We are deeply honoured to receive an A+ Outlook Stable rating from the esteemed Lanka Rating Agency of Sri Lanka. This prestigious recognition underscores the strength, reliability, and performance of the Astrue Money Market Fund, a unit trust fund meticulously designed to cater to every type of investor seeking steady wealth growth.  

The Astrue Money Market Fund stands out as one of the best-performing money market funds currently available in the financial market. Our expert fund managers, supported by our dedicated research and analysis department, are fully equipped to navigate through challenging and adverse market conditions. Their expertise ensures that we consistently deliver holistic and optimal returns to our valued investor pool. 

This A+ rating is a testament to our unwavering commitment to excellence and our mission to provide secure, growth-oriented investment opportunities for all. We remain dedicated to upholding the trust placed in us by our investors and will continue to strive for excellence in all that we do.” 

Lanka Rating Agency Ltd., Chief Executive Officer Dr. Kenneth De Zilwa said: “The ‘A+ (f)’ stability rating underscores the Astrue Money Market Fund’s strong governance, prudent investment strategy, and high-quality asset base. This recognition not only reflects the Fund’s consistent risk management and liquidity strength but also enhances investor confidence by affirming its capacity to preserve capital and deliver steady, reliable returns across market cycles.”

The Fund currently manages assets of approximately Rs. 753 million (as of May 2025), holding a modest share of 0.21% within the overall money market fund category. While investor concentration remains a key area of monitoring, the Fund’s proactive management framework and adherence to SEC regulations are expected to sustain its stability going forward.