14 May 2021

ESMA Regulatory Consultation Raises ST VNAV Fund Profile

London: ESMA’s recent consultation report considering the potential elimination of the dominant fund type in Europe, low-volatility net asset value (LVNAV) money market funds (MMFs), while retaining variable net asset value (VNAV) funds, has increased investor interest in short-term (ST) VNAVs. Fitch...

29 April 2021

Supply Chain Finance Funds Face an Uncertain Future

London - Supply chain finance funds (SCFs) face an uncertain future following the recent suspension and liquidation of several open-end mutual SCFs with links to the failed supply-chain finance company Greensill Capital, Fitch Ratings says in a new report. Fallout from the situation is likely to damage...

18 March 2021

Fitch Affirms 10 J.P. Morgan Liquidity Funds

Fitch Ratings has affirmed the ratings of nine J.P. Morgan short-term money market funds (ST MMFs) and one J.P. Morgan standard money market fund (MMF). The ST MMFs and standard MMF are managed by J.P. Morgan Asset Management (UK) Limited (euro- and sterling-denominated funds) and J.P. Morgan Investment...

11 March 2021

Fund Conversions Drive Strong Growth in Global ESG MMFs

Fitch Ratings estimates that assets under management (AUM) in global ESG-oriented money market funds (MMFs) increased by around 50% to EUR123 billion by end-2020. In contrast, growth of all global MMFs was only around 20% in the same period. The ESG MMF growth was driven primarily by funds converting to an...

17 September 2020

Increasing Divergence of US and UK/EU ESG Regulations Will Not Deflect Progress says Fitch

The US and the UK/EU are on different regulatory pathways regarding ESG but the long-term structural trends in favour of ESG investing will persist, says Fitch.

19 August 2020

Fitch Assigns The Sterling Conservative Ultra Short ESG Fund First-Time ‘AAf’/’S1’ Rating

The fund was launched to provide moderate liquidity while maximising income and preserving capital via investing in investment-grade fixed-income securities.

29 July 2020

European Short-Term MMFs Hold Limited Share of Corporate CP

European non-government short-term MMFs account for a limited share of European commercial paper (ECP) issued by non-financial corporates.

27 July 2020

Fitch Downgrades CSOP US Dollar Money Market ETF to ‘AA+f’

Fitch Ratings has downgraded CSOP US Dollar Money Market ETF’s International Fund Credit Quality Rating to ‘AA+f’, from ‘AAAf’.

16 June 2020

European Money Market Fund Dashboard: June 2020

European low-volatility net asset value money market funds’ (MMFs) flows have stabilised since a volatile period in March 2020 for all currencies.

29 May 2020

Locked-In Fees Protect Investment Co’s Leverage from Asset Write-Down

Declines in asset values as a result of the pandemic are likely to put pressure on the balance-sheet leverage of rated European investment companies

4 May 2020

Fitch Ratings Assesses Global FIs in a Coronavirus Downside Scenario

Fitch Ratings has assessed the rating vulnerabilities of global financial institutions (FIs) during a coronavirus downside scenario in a recently published report.

23 April 2020

Fitch Ratings Updates Money Market Fund Rating Criteria

This criteria report focuses on the key rating considerations when assessing the capacity of an MMF, or of other liquidity- or cash-management products.