Fitch Ratings has confirmed the National Fund Credit Quality Rating of ‘BBf(lka)’ and the National Fund Market Risk Sensitivity Rating of ‘S4(lka)’ for Capital Alliance Investment Grade Fund but has subsequently withdrawn these ratings due to commercial considerations.
KEY RATING DRIVERS
The fund has consistently met the criteria for the ‘BBf(lka)’ credit quality rating and the ‘S4(lka)’ market risk sensitivity rating as set forth in Fitch’s Bond Fund Rating Criteria since the last evaluation conducted on April 16, 2025. The Capital Alliance Investment Grade Fund operates as an open-end fixed-income vehicle, primarily allocating its resources to term deposits and securities issued by both Sri Lankan banks and non-bank financial institutions. The fund is managed by Capital Alliance Investments Limited, which is predominantly owned by Capital Alliance Limited, with a minority stake held by Sri Lanka Insurance Corporation Limited. Notably, Capital Alliance Investments Limited is recognized as the largest investment management firm in the country, commanding approximately 36% of the market share and managing total assets of LKR205 billion in unit trust funds as of the end of July 2026.
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RATING SENSITIVITIES
Since the ratings have been withdrawn, there are no factors that could lead to a negative rating action or downgrade. Similarly, there are no factors that could result in a positive rating action or upgrade, as the ratings are no longer in effect.
