Today sees the launch of the innovative new Nedgroup Investments Prime Money Market Fund.
“At Nedgroup Investments Cash Solutions, we value feedback from our clients and have therefore responded to the need we identified to provide Rand-denominated exposure to international paper,” Nedgroup Investments said in a statement.
As the latest addition to the Cash Solutions Range of funds, the Nedgroup Investments Prime Money Market Fund offers amongst the highest credit available in South Africa issued domestically in Rands by international banks and corporates. The fund will invest in Rand-denominated instruments with a high investment grade of A- or better, on an international scale and will include exposure to the likes of HSBC, Macquarie, Societe Generale and BNP Paribas.
“The fund is suitable for ultra-conservative investors looking for rand-denominated exposure to highly regarded international issuers via a single portfolio and may have particular appeal to insurers and other financial institutions that benefit from investing in higher-rated instruments in order to minimise their own regulatory capital requirements.
“While the fund does yield marginally less than a typical money market fund, it still provides fixed-deposit type yields and comes with a far better credit quality due to the fact that its exposure is to international banks and corporates.”
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