The fast-growing asset management arm of the Softlogic Group, Softlogic Invest is
pleased to announce that their Money Market Fund has been assigned a rating of “[SL] A mfs” (Sri
Lanka A rated mutual fund scheme) by ICRA Lanka Limited.
The fund that commenced operations in July 2020 has performed well despite the obstacles of the
pandemic and as of 25th March, 2021, the Softlogic Money Market Fund has surpassed Rs. 1.5 billion in
Assets under Management with over 1,300 unitholders, delivering an annualized current yield of 7.40%.
These returns are delivered while maintaining over 80% in category A investments, which include A, A-,
AA+ instruments.
“We are delighted that as a brand new entrant to the Unit Trust Mutual Fund business, the Softlogic
Money Market Fund received an exceptional rating of ICRA SL A. When managing external funds we felt
that showing return against risk is imperative to prospective investors as pure-play yield comparison is
simply not informative enough to our investor base. We are keen on educating our investors on the
value, transparency and significance of this external rating by ICRA through all our client
communications,” stated Softlogic Invest Chief Executive Officer and Director Niloo Jayatilake.
Launched in July 2020, Softlogic Money Market Fund is an open-ended Unit Trust Fund approved by the
Securities and Exchange Commission of Sri Lanka (SEC). The fund invests in government treasury bills,
bonds and other government securities, investment grade corporate debt securities such as debentures,
commercial papers, securitization papers and repurchase agreements with maturities of less than one
year which can be readily convertible to cash. The overall objective of the Fund is to earn a return of
interest income while preserving investor capital and liquidity.
Commenting on the significance of the rating, Softlogic Invest Portfolio Manager Daham Hettiarachchi
opined, “This outstanding rating signifies our attempt to deliver optimum returns given the current low-
rate environment and COVID challenges. We adopt a more conservative strategy when allocating funds
whilst ensuring that our Unit holders are able to access attractive returns. With this approach, we are
currently delivering a return well above traditional non-bank fixed deposit rates and savings rates.
Therefore, our investors enjoy optimum yield compared to traditional NBFI fixed deposit rates whilst
enjoying the flexibility of withdrawal at any time they want without any charges. We believe that
customer convenience and access to funds is paramount to grow Industry volumes.”
ICRA Lanka’s mutual fund rating methodology is based on evaluating the inherent credit quality of the
fund’s portfolio. Schemes with this rating are considered to have adequate degree of safety regarding
timely receipt of payments from the investments that they have made. The credit risk ratings
incorporate ICRA Lanka’s assessment of a debt fund’s published investment objectives and policies, its
management characteristics, and the creditworthiness of its investment portfolio. The organisation
reviews relevant fund information on an ongoing basis to support its published rating opinions.
About Softlogic Invest
The brand ‘Softlogic Invest’ represents Softlogic Asset Management Pvt Ltd which is a fully owned
subsidiary of Softlogic Capital PLC and is part of the Softlogic Group, which is recognized as one of Sri
Lanka’s most diversified and fastest-growing conglomerates with interests in Healthcare, Retail, ICT,
Leisure, Automobiles and Financial Services. The Company offers diverse capital market services to
individual and corporate clients and has a highly experienced Board of Directors and Senior
Management.