Why Clarity is an Asset

by Colin Cookson, Head of Liquidity, Aviva Investors

Colin Cookson, Head of Liquidity at Aviva Investors, explains why corporate treasurers are looking for better information on how and where their money is invested.

Security of cash assets counts for everything in this uncertain world. Investors want managers who can demonstrate clearly that their funds are securely invested. 

Corporate treasurers across Europe are increasingly using independently-rated money market funds as they diversify their holdings, but it is essential they receive clear information on exactly where and how their money is invested.

Aviva Investors has led the way in transparent reporting across its money market funds. In addition to publishing weighted average maturity (WAM) we also publish weighted average life (WAL) daily on our funds. Clients are sent detailed portfolios weekly showing all fund positions. Beyond this, Aviva Investors has pioneered a move from notional constant net asset pricing to variable net asset value pricing on three of our core cash funds, including the Euro Liquidity Fund. Whilst the stated aim of our Liquidity Funds is to maintain a stable value of 1.000, this level of transparency reassures investors by telling them daily the market value of the underlying investments. In fact our funds have never moved below 1.000.

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