12 March 2025
London – The Janus Henderson Anemoy Treasury Fund (JTRSY) has been assigned an AA+f / S1+ fund credit quality rating from S&P Global Ratings. This is the highest rating given 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.
In February, the Anemoy Liquid Treasury Fund (LTF) was renamed Janus Henderson Anemoy Treasury Fund (JTRSY) to highlight the growing partnership between the two firms, as 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 Global Ratings 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.
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Notes to editors
Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world-class service.
As of December 31, 2024, Janus Henderson had approximately US$379 billion in assets under management, more than 2,000 employees, and offices in 25 cities worldwide. The firm helps millions of people globally invest in a brighter future together. Headquartered in London, Janus Henderson is listed on the NYSE.
About Centrifuge
Centrifuge protocol enables asset managers to tokenize, manage, and distribute tokenized funds on-chain, while providing investors access to a diversified portfolio of high-quality tokenized assets. Founded in 2017 and backed by leading VCs, Centrifuge has been a driving force in the institutional adoption of tokenized assets and has championed industry initiatives including the Tokenized Asset Coalition, the Real-World Asset Summit, and the creation of widely recognized token standards.
About Anemoy
Anemoy is a web3 native asset manager established to advance Centrifuge’s efforts in developing RWA products for bridging TradFi and DeFi. Supporting the entire lifecycle of onchain asset management. Anemoy provides institutions with end-to-end services across compliance, asset management, and seamless integration of real-world assets into DeFi, spanning origination, tokenization, securitization, management, and distribution.
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