Money Market Funds and Credit Research by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock In today’s complex and fast-changing markets, prudent risk management is more important than ever, including understanding the source of investment risk and ensuring it is appropriate for each portfolio. Credit risk is the risk that a security’s […]
Transparency and Risk in Money Market Funds by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock The themes of transparency and risk have evolved in the US and international money market funds (MMF) industries over recent years as key stakeholders in the industry have sought to create new and improved standards for […]
The Year of Living Divergently by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock Cash, like all other asset classes, is bound to the health of the wider economic environment in which it exists. In recent years, during which we have seen prolonged periods of broad market instability and heightened risk aversion […]
Understanding Repurchase Agreements by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock The repurchase agreement market is one of the largest and most actively traded sectors in the short-term credit markets and an important source of liquidity for money market funds and institutional investors. Repurchase agreements (also commonly referred to as repo […]
Money Market Funds: A Global Story by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock According to a recent report for Q2 2011 jointly compiled by the European-based European Fund and Asset Management Association (EFAMA) and US based Investment Company Institute (ICI), investors held some $4.9tr of assets under management around the […]
The Importance of Credit Research and NRSRO Ratings by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock Following the worst financial crisis in recent history, the global money market funds industry has come under heightened scrutiny. The events of 2008, including the historic ‘breaking of the buck’ by the Reserve Primary Fund […]
The Cash Investment Policy Statement – Developing, Documenting and Maintaining a Cash Management Plan by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock The face of the cash management industry is changing. Once thought of as a homogeneous, no-risk asset class, the cash market is now recognised as multi-faceted, complex and, to […]
Stress Testing and the Money Market Funds Industry by Mark Stockley, Managing Director and Head of International Cash Sales, BlackRock The term ‘stress test’ can be applied to many scenarios where managing risk is critical – assessing cardiac health, evaluating structural stability in buildings or measuring the financial strength of banks. Depending on its application, stress […]
Global Regulatory Changes Affecting the Money Market Fund Industry by Mark Stockley, Head of International Cash Sales, BlackRock In recent years, financial regulators across the world have introduced amendments to legislation that have affected virtually every area of the markets. These changes have had a major impact on the work of treasury practitioners in both […]
