• Home
  • About
  • Subscribe
  • LATIF
  • Conferences
  • Dashboard
  • Edit My Profile
  • Log In
  • Logout
  • Register
  • Edit this post

Room 151

  • 151 BRIEF

    What's New?

  • Soaring inflation and pay pressures to add £3.6bn to council budgets

    June 28, 2022

  • Underfunded social care reforms could ‘exacerbate workforce pressures’

    June 27, 2022

  • Nottingham City Council leader labels proposed intervention as “disappointing”

    June 27, 2022

  • Government preparing to intervene in Nottingham City Council

    June 23, 2022

  • Low earners at Surrey County Council receive 7.85% pay increase

    June 23, 2022

  • UK Infrastructure Bank launches plan to deploy £22bn of investment

    June 23, 2022

  • Treasury
  • Technical
  • Funding
  • Resources
  • LGPS
  • Development
  • 151 News
  • Blogs
    • David Green
    • Agent 151
    • Dan Bates
    • Richard Harbord
    • Stephen Sheen
    • James Bevan
    • Steve Bishop
    • Cllr John Clancy
    • David Crum
    • Graham Liddell
    • Ian O’Donnell
    • Jackie Shute
  • Interviews
  • Briefs

GSAM trio of liquidity funds get ‘AAAmmf’ from Fitch

0
  • by Editor
  • in Recent Posts
  • — 13 Nov, 2011

Goldman Sachs Asset Management (GSAM) has launched sterling, euro and dollar denominated Liquid Reserve Funds, all domiciled in Dublin, with AAAmmf approval for all three from Fitch Ratings.

In a statement by the credit ratings agency, Fitch said: “Consistent with Fitch’s ‘AAAmmf’ money market fund rating criteria, the funds seek to maintain a high credit quality by investing exclusively in short-term
securities rated at least ‘F1’ by Fitch or a comparable credit quality by other global rating agencies. Also in line with Fitch’s criteria, the funds limit their exposures to individual issuers and counterparties. For the three funds at the beginning of November, over 60% of issuers and counterparties carried the highest short-term rating of ‘F1+’, or equivalent.”

GSAM’s latest offerings for investors seeking liquidity are also reported to”maintain a high credit quality by investing exclusively in short-term securities rated at least ‘F1’ by Fitch or a comparable credit quality by other global rating agencies.”

Furthermore, sat Fitch: “the funds limit their exposures to individual issuers and counterparties. For the three funds at the beginning of November, over 60% of issuers and counterparties carried the highest short-term rating of ‘F1+’, or equivalent.”

GSAM’s objective with the funds is “to offer capital preservation and liquidity, while providing a competitive level of return.” Primary analysis was carried out by Charlotte Quiniou, Director of Fitch France SAS.

Share

You may also like...

Leave a Reply Cancel reply

You must be logged in to post a comment.

  • 151 BRIEFS – WHAT’s NEW?

    • Underfunded social care reforms could ‘exacerbate workforce pressures’
    • Nottingham City Council leader labels proposed intervention as “disappointing”
    • Government preparing to intervene in Nottingham City Council
    • Low earners at Surrey County Council receive 7.85% pay increase
    • UK Infrastructure Bank launches plan to deploy £22bn of investment
  • Room151’s LGPS Roundtables

    Biodiversity
    Valuations & Risk
    LGPS Women

  • Room151’s LGPS Roundtables

    Biodiversity
    LGPS Women
    Valuations & Risk
  • Latest tweets

    Room151 10 hours ago

    Gove at LGA: councils to receive two-year financial settlement: Michael Gove has announced that councils will receive a two-year financial settlement from next year to provide authorities with “financial certainty” and allow them to plan ahead. The… dlvr.it/ST0kSV pic.twitter.com/wxL3UM4sGO

    Room151 10 hours ago

    LGPS valuations: the digital journey: Rob Bilton explains how technology is helping to deliver one of the most complex data exercises in the world of public sector pensions. The 2022 valuations for LGPS funds in[...] dlvr.it/ST0kMq pic.twitter.com/VxjSPC2Uvo

    Room151 4 days ago

    Conrad Hall: ‘more sophisticated’ regulation needed for local government: The chair of the CIPFA/LASAAC Code Board has questioned the sophistication of financial regulation in local government and the continuing focus of the Department for Levelling Up,… dlvr.it/SSnPBV pic.twitter.com/G5d7JCWF8c

    Room151 7 days ago

    Slough Council approves plans to restructure finance department: Slough Borough Council has approved plans to restructure its finance department to enhance capacity and capability and to address a “significant weakness” in the function. The local… dlvr.it/SSf8DG pic.twitter.com/l5lmyHmkBg

    Room151 1 week ago

    Job Alert: Various Finance Roles: lnkd.in/eRKRvhJb pic.twitter.com/KkBrjXxAYD

    Room151 1 week ago

    MRP on capital loans: a step in the right direction: David Green says the latest government proposals on Minimum Revenue Provision should be welcomed by local authorities. There are still some unintended consequences, but the suggested approach for… dlvr.it/SSZ7JK pic.twitter.com/M1W9qVgYWN

    Room151 1 week ago

    MRP U-turn welcomed but ‘unintended consequences remain’: Local authority finance directors and treasury advisers have welcomed the government’s revised Minimum Revenue Provision (MRP) proposals, while pointing out that some unintended consequences still… dlvr.it/SSWvY0 pic.twitter.com/sGglpVNFs3

    Room151 1 week ago

    Mike O’Donnell: ‘progress on LGPS asset pooling needs to go further and faster’: The CEO at the London CIV pension pool has called for progress on pooling the assets of the Local Government Pension Scheme (LGPS) to accelerate. Mike O’Donnell told… dlvr.it/SSWvWV pic.twitter.com/rE1NjbMCCq

  • Register to become a Room151 user

  • Previous story Money Funds Slow Eurozone Reductions in October Says JPMorgan
  • Next story Fitch affirms ‘AAAmmf’ for Invesco STICs

© Copyright 2022 Room 151. Typegrid Theme by WPBandit.

0 shares