Sunrise Capital's rating upgraded to AMC 3 Plus

 Kathmandu, June 21

Care Ratings Nepal Limited (CRNL) has revised and upgraded the Fund Management Quality Rating (FMQR) of Sunrise Capital Limited (SCL) to AMC 3⁺ from AMC 3.

AMC 3⁺ indicates adequate assurance on management quality of Asset Management Company (AMC), said the Sunrise Capital in a statement on Wednesday.

According to the company, the revision in FMQR rating assigned to SCL derives from the factors such as the sustained growth in scale of operations, overall Assets Under Management (AUM) of SCL coupled with better returns of the schemes marked by the better alpha and relatively lower beta of the schemes over FY 2022/23.

It further said that the rating also factors in SCL’s established track record of operations in merchant banking.

"The FMQR, however, continues to remain constrained by evolving nature of the Mutual Fund Industry, limited market diversification in the industry so far, and volatile trend of the Nepal Stock Exchange (NEPSE) index," read the statement. 

Published in The Rising Nepal daily on 22 June 2023.