Thu, 18/12/2008 - 12:00
Nedgroup Investments, a specialist fund of hedge funds provider, has made three of its money market funds available to investors through a partnership with Thomas Miller Investments.
The three funds - the Nedgroup Sterling Fund, US Dollar Fund and Euro Fund - were opened to investors in November.
Each fund has been given an AAAf credit quality rating from Standard & Poors.
In addition, the funds have been assigned a S1+ volatility rating, reflecting their low sensitivity to changing market conditions.
The three money market sub funds offer retail and institutional investors access to offshore vehicles which provide a low-risk alternative to cash deposits, denominated in British pounds sterling, euros, and US dollars.
The investment objective of the sub funds is long-term capital growth through direct or indirect investment in cash deposits, money market instruments, and other investment funds.
The money market funds have been in existence since 1999 as cash deposit funds.
Nedgroup has attained investor approval to transfer the mandates of the three funds, which will now act as feeder funds to Thomas Miller Investments managed master funds.
Thomas Miller Investments' master funds - The TMI Sterling Liquidity Fund, The TMI US Dollar Liquidity Fund and The TMI Euro Liquidity Fund - use a conservative investment approach to protect capital. The funds' portfolios are made up of cash deposits, fixed rate bonds and floating rate assets.
The TMI Sterling, US Dollar and Euro Liquidity funds have returned 5.95 per cent, 3.38 per cent and 4.35 per cent respectively since their launch.
The money market funds are part of the Nedgroup Investments Funds, an Isle of Man based collective scheme. The minimum investment in the fund is USD4,000 (or currency equivalent).
Andrew Lodge, managing director of Nedgroup Investments (photo), says: 'Nedgroup's money market funds offer a safe haven to investors during a highly unpredictable time for global markets. As the S&P volatility rating for these funds indicate, volatility is expected to be very low, providing capital security while still making returns in excess of any savings account.'
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