OREANDA-NEWS. Fitch Ratings has withdrawn UBS SDIC Ruiyi Money Market Fund's 'AAAmmf(chn)' rating. The fund is managed by UBS SDIC Fund Management Co. Ltd.

KEY RATING DRIVERS
Fitch is withdrawing this rating as it is no longer considered to be relevant to the agency's coverage. The fund size has been shrinking to CNY60m at end -1Q15 from over CNY600m at end-2Q14 with a highly concentrated investor base.

The fund currently exhibits temporary high counterparty concentration in excess of Fitch's money market fund criteria. However, this concentration risk is mitigated by the high credit quality and short-term maturity of the exposure, and the appropriate operational framework.

RATING SENSITIVITIES
Not applicable