| Aditya Birla Sun Life Savings Fund | ||||||||
| (AMC: Aditya Birla Sun Life AMC Limited) | ||||||||
| Rating Reaffirmed; Placed on 'Notice of Withdrawal' | ||||||||
| Rating Action | ||||||||
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| Note: None of the Directors on CRISIL Ratings Limited’s Board are members of rating committee and thus do not participate in discussion or assignment of any ratings. The Board of Directors also does not discuss any ratings at its meetings. | ||||||||
| 1 crore = 10 million | ||||||||
| Refer to annexure for Details of Instruments & Bank Facilities |
Detailed Rationale CRISIL Ratings has placed the Aditya Birla Sun Life Savings Fund scheme of Aditya Birla Sun Life Asset Management Company Ltd (ABSL) on 'Notice of Withdrawal' for 30 days, while reaffirming the rating at ‘CRISIL AAAmfs’.
The rating has been placed under notice of withdrawal on the request of ABSL. The rating will be withdrawn on completion of the notice period. The rating remains under surveillance during this period. |
Analytical Approach CRISIL Ratings assessment of a rated fund scheme’s credit quality is based on the creditworthiness of the fund scheme’s underlying portfolio of investments. CRISIL Ratings assigns a credit score to each investment security in the scheme corresponding to the security’s credit quality. The scheme’s rating is based on the weighted average credit score of all underlying securities. |
Key Rating Drivers & Detailed Description ‘CRISIL AAAmfs’ indicates the opinion of CRISIL Ratings on the credit quality of the portfolio of debt securities that the fund holds; the rating does not indicate the willingness or ability of the AMC to make timely payments to the funds’ investors. Schemes with this rating are considered to have the highest degree of safety regarding timely receipt of payments from the investments that they have made.
CRISIL Ratings’ assessment of a rated fund’s credit quality is based on the creditworthiness of the fund’s portfolio. CRISIL Ratings has developed a credit quality matrix to assess the aggregate credit quality of a fund’s underlying portfolio. The matrix is a set of credit factors and scores derived scientifically from the default and transition rates of CRISIL Ratings’ long-term ratings. The credit factors reflect the expected default behaviour of the respective securities in the portfolio, and the expected deterioration in their credit quality. The lower the credit factor for each security, the higher would be its inherent credit quality. The credit factors are applied to the proportion of securities held in each rating category to arrive at the credit score for the portfolio. The rating on the fund is assigned on the basis of the fund’s total credit score. A rated fund needs to maintain, at all times, a credit score consistent with its assigned rating. |
Liquidity: Not Applicable |
Rating Sensitivity Factors Downward Factors
About the scheme The primary objective of the scheme is to generate regular income through investments in debt and money market instruments. Income may be generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The scheme will, under normal market conditions, invest its net assets in fixed-income securities, money market instruments and cash and cash equivalents
About the AMC ABSL asset management manages the funds in accordance with the provisions of the investment management agreement, trust deed, regulations and objectives of each fund. ABSL had assets under management of Rs 13,145 crore as on June 30, 2024 |
Key Financial Indicators: Not Applicable |
Status of noncooperation with previous CRA: Not Applicable |
Any other information: Not Applicable |
Note on complexity levels of the rated instrument: |
Annexure - Details of Instrument(s)
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| Annexure - Rating History for last 3 Years | |||||||||||||||||||||||||||||||||||||||
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| All amounts are in Rs.Cr. | |||||||||||||||||||||||||||||||||||||||
Criteria Details
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