GSAM trio of liquidity funds get ‘AAAmmf’ from Fitch
0Goldman 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.
