Melbourne, 14 October 2016 – Australia Ratings has affirmed its credit rating of ‘BBB’ to Masons Stevens Credit Fund (“the Fund”).

A rating of ‘BBB’ represents that the Fund has a moderate level of protection against loss from credit risk on the rating scale used by Australia Ratings for fixed income funds. The rating primarily reflects the weighted average credit quality of the Fund’s assets and the experience and skill of the Fund’s Investment Management team, Mason Stevens Asset Management Limited.

Mason Stevens Credit Fund was launched in May 2013 and aims to generate a return of 3.5% above the Cash Rate by investing in securities that generate both income and yield. The Fund units provide investors with a quarterly distribution of income and a return of principal via a redemption request subject to redemption terms and conditions.

Australia Ratings analyst Renee Corcoran said “Investors in the Fund benefit from a diversified portfolio of debt securities with the current portfolio comprising investment grade assets.” Ms Corcoran added, “During the past year, the Fund’s foreign currency exposure remains relatively stable while the majority of the Fund’s assets are held in Australian dollars and across diversified asset classes including asset-backed, senior-unsecured bonds, and tier 1 hybrids, government and futures”.

Australia Ratings has also confirmed its Product Complexity Indicator of ‘YELLOW’ to the Fund indicating that an investment in the units represents a complex investment.

The YELLOW indicator highlights two important conditions. Firstly, the Fund’s documentation allows for using derivatives and borrowing in managing the Fund. Risk arising from the use of derivatives and borrowings will depend on the Investment Manager’s judgement. Secondly, if redemption sought is for over 20% of total units in any one month, the constitution of the Fund does permit redemptions to be spread over 3 months or in certain circumstances, redemption may be delayed to manage liquidity.

A full rating report is available from

For more information contact:

Renee Corcoran, Director, Australia Ratings
Phone: 03 8080 6684



Melbourne, 7 October 2016 – Australia Ratings is pleased to invite investors and those interested in the listed debt market to familiarise with some basic topics in investing in fixed income. Participants will be introduced to various fixed income debt securities available to help with investment portfolio diversification.

Designed to help self-directed investors, the 90 minute seminar will introduce investors to the types of listed debt securities and hybrids on the ASX and the role of credit ratings and complexity indicators in the investment market.

The seminar will take place on Monday 7 November at Collins Street Business Centre.

Register now to secure your spot.

If you have any further queries contact us by email: or Tel: (03) 8080 6684.



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