Janus Henderson & Anemoy Fund Receives Highest Tokenized Fund Rating

Janus Henderson is pleased to announce that the tokenized fund it manages with Anemoy has been assigned an AA+f / S1+ fund credit quality rating from S&P Global Ratings. This is the highest rating awarded to any tokenized fund and the second highest rating that S&P awards.

This milestone, combined with the fund’s existing ratings from Moody’s and Particula, establishes a new benchmark for tokenized fund quality and sophistication, making it the most-rated tokenized fund to date. Last year, the fund received an “Aa” rating from Moody’s and an “A+” rating from Particula, and now holds the highest ratings assigned by any of the three agencies. S&P ratings are among the most globally respected, reinforcing universal benchmarking, transparency, and business growth.

Janus Henderson became sub-investment manager of the fund in 2024. Blockchain readiness and tokenization are key pillars underpinning Janus Henderson’s innovation strategy. By embracing disruptive financial technologies, Janus Henderson has positioned itself at the forefront of this evolution, leveraging blockchain to enhance efficiency, transparency, and accessibility in asset management.

Nick Cherney, Head of Innovation at Janus Henderson, emphasised the strategic significance of the partnership: “This rating from S&P is an indication of the increasing institutionalization of tokenized fund solutions and further validates our decision to partner with Centrifuge and Anemoy, the clear leaders in delivering robust tokenization solutions that meet the high demands of institutional investors”.

Anil Sood, Co-Founder of Anemoy and Chief Strategy and Growth Officer of Centrifuge, noted the broader implications: “We’re pioneering the strategic imperative of tokenized funds and what they represent for the future of capital markets. We are proud to be rated by S&P Global Ratings, one of the most trusted industry benchmarks and look forward to using this momentum to drive broader adoption of RWAs”.

The S&P rating represents a critical inflection point for tokenized funds, providing investors with the same level of analytical insight and risk assessment they expect from traditional financial instruments.

The S&P report stated: “We consider the tokenization 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 decentralized blockchain with a strong track record of operational resilience.”

S&P Global Ratings’ methodology for fund ratings involves a quantitative analysis of portfolio credit risk, a qualitative assessment of management and risk controls, and a comparative analysis against peer funds.