Products September 22, 2006

New Alliance Offers Euro, Dollar, and Sterling Products

September 22, 2006 (PLANSPONSOR.com) - BNP Paribas Asset Management, Federated Investors, Inc. and Henderson Global Investors have come together to form Cash Funds International, offering three AAA-rated institutional money market funds.
Reported by

A press release said the new alliance offers sizeable liquidity funds in each of the three major market currencies. The funds being offered are:

  • £2 billion Henderson Liquid Asset Sterling Fund,
  • $3 billion Federated Short-Term US Prime Fund, and
  • €3 billion BNP Paribas InstiCash EUR Fund.

Cash Funds International’s portfolios invest in short-term, high quality money market instruments in the euro, sterling and dollar currencies, according to the release. Money market funds offer the flexibility to invest in any increment, same-day settlement, diversification, transparency for assets and returns, independent credit management and a third-party custody and transfer agent.

“In a global marketplace, multi-national companies, pension schemes and their treasurers look to ensure that their cash resources are being used to maximum advantage,” said Mark Camp, director of institutional liquidity funds for Henderson Global Investors, in the release.

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