Janus Henderson and a web3 native asset manager Anemoy’s jointly managed tokenised fund has received an AA+f / S1+ rating from S&P Global Ratings — “the highest ever awarded to a tokenised fund”.
The AA+f / S1+ rating from S&P, the second highest rating awarded by the agency, followed previous strong ratings from Moody’s and Particula, shared the providers. The fund was assigned an “Aa” rating from Moody’s and an “A+” rating from Particula in 2023, making it the most-rated tokenised fund to date. S&P’s globally respected rating reinforces the broader acceptance of tokenised funds as credible, institutional-grade investment solutions.
Janus Henderson, which became sub-investment manager of the fund in 2024, said blockchain readiness and tokenisation are core pillars of its innovation strategy. The company views these technologies as essential to improving efficiency, transparency, and accessibility in asset management.
The Investment Association’s John Allan to speak at FundsTech Forum 2025
Centrifuge protocol enables asset managers to tokenise, manage, and distribute tokenised funds on-chain while providing investors access to a diversified portfolio of high-quality tokenised assets.
The S&P report highlighted the fund’s robust technical foundation, noting: “We consider the tokenisation setup to be operationally resilient […] the fund has a multichain architecture […] whereas fund tokens are issued on Ethereum, Base, Arbitrum, and Celo. Ethereum is a highly decentralised blockchain with a strong track record of operational resilience.”
S&P Global Ratings’ methodology for fund ratings involves quantitative analysis of portfolio credit risk, qualitative assessment of management and risk controls, and comparative analysis against peer funds. The rating signals a critical step in aligning tokenised funds with traditional financial instruments in terms of analytical insight and risk assessment.
