PEER GROUP SUMMARY
Repo Use Varies Dramatically
- November median overall score decreased to 3.67 from 3.82 in October.
- The top 15 funds experienced average outflows of 2.9% in November.
- 7-Day Yield increased by two basis points to 0.11% in November.
- Median Repo and Counterparty grade decreased by three notches to C in November from B in October, as we re-assessed counterparty strength.
- Median Sponsor grade fell one notch to B, as we lowered our systemic support assumptions.
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FundIQ® is a research tool that can help you manage risk and pursue performance through independent money market fund analysis. FundIQ® enables treasury professional to quickly assess the underlying risks money markets may possess to help them make informed decisions.
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Top Five Holdings
- Barclays Bank
- U.S. Treasury
- Deutsche Bank
- JP Morgan
- Bank of America
Money Fund News
- Bloomberg: BofA, Goldman Sachs, Citigroup Credit Ratings Cut by S&P (Nov. 29)
- Reuters: U.S. Money Funds Seen at Risk from Europe's Debt Storm (Nov. 20)
- Bloomberg: Banks in U.S. Facing Serious Risk on Contagion from Europe Fitch Says (Nov. 17)
- Bloomberg: Blackrock Among U.S. Money Market Funds Cutting Deutsche Bank Investments (Nov. 11)
- Securities and Exchange Commission: Remarks at SIFMA's 2011 Annual Meeting by Chairman Mary L. Schapiro (Nov. 7)
Market Update
- S&P: Six Major U.S. and U.K. Banks Downgraded to Tier 2 (Dec 2)
- Moody's: First American Prime Obligations Fund (Dec 1)
- Moody's: Eksportfinans ASA Short-Term Rating Downgrade (Nov 22)
- Moody's: Italy Long-Term Debt Ratings on Review for Downgrade (June 20)
- Moody's: French Banks on Review for Downgrade (May 16)
Three Challenges for Corporate Cash Investors in 2012
One short year ago, we discussed three key trends for 2011: low interest rates, a spreading sovereign debt crisis and persistent financial regulation. And we started our 2011 commentary with the phrase, "meet the New Year, same as the old." Have we caught you in a moment of déjà vu? …
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