Melbourne, 31 May 2016 – Australia Ratings has affirmed its credit rating of ‘A’ to the Class A and Class B units issued by the Sandhurst Strategic Income Fund (“the Fund”).
A rating of ‘A’ represents that the Fund has a strong degree of protection against loss from credit risk on the rating scale used by Australia Ratings for fixed income funds. The rating primarily reflects the credit quality of the Fund’s investments and the experience and skill of the Fund’s Management team of Sandhurst Trustees Limited.
Australia Ratings analyst Renee Corcoran said “Investors in the Fund benefit from a highly diversified portfolio of term deposits and debt securities with low volatility risk due to short interest rate duration of the portfolio.” Ms Corcoran added “Over the last 12 months, the Fund reduced its exposure to term deposits and has invested a greater proportion of funds in corporate bonds and floating rate notes.”
Sandhurst Strategic Income Fund was launched in July 2011 and is part of the Bendigo Wealth division and a wholly-owned subsidiary of Bendigo and Adelaide Bank Group.
The units provide investors with a quarterly distribution of income and a return of principal via a redemption request. Australia Ratings has also confirmed its Product Complexity Indicator of ‘BLUE” to the Fund’s units to indicate that an investment in the units represents a relatively simple type of fixed interest investment. The BLUE indicator highlights that in certain exceptional circumstances the Fund may defer redemption requests to manage its liquidity.
A full rating report is available from www.australiaratings.com/rating-reports.
For more information contact:
Renee Corcoran, Director, Australia Ratings
Phone: 03 8080 6684