The Hindu Business Line : ICRA rates mfA1+ on Templeton India Treasury Management

ICRA has assigned a credit risk rating of mfA1+ to Templeton India Treasury Management Account. The rating is the highest credit quality short-term rating assigned by the agency to debt funds. The scale applies to funds with weighted average maturity of up to one year.

The fund, an ICRA press note has stated, is a liquid scheme, aimed at investing 70-100 per cent in money market instruments with the objective of providing current income with high liquidity. It had an average maturity of 0.42 years as on August 31, 2005.

The rated fund carries the lowest credit risk, similar to that associated with short-term debt obligations, the press note has mentioned, adding that the ratings should not be construed as an indication of the prospective performance of the scheme or of volatility in its returns.

The credit risk ratings incorporate the agency's assessment of a fund's investment objectives, its management characteristics and creditworthiness of its investment portfolio.

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