Wednesday June 8,2011,
ING Investment Management Europe (ING IM) announced that its flagship money market fund has achieved an AAA-mf Principal Stability Fund Rating from Moody’s. The ING (L) Liquid Euro Fund achieved the highest possible ranking by satisfying the newly developed criteria set by the credit rating agency.
Wim Veraar, Head of Money Markets, ING Investment Management commented: “Receiving this rating from Moody’s is a fantastic endorsement for our fund and we are delighted to receive it.”
Moody’s revised its money market fund rating methodology in Q1 2011 to incorporate a number of new criteria and these changes have since been applied to the 291 money market funds rated by the agency. Money market funds awarded a rating of AAA-mf are viewed as having a very strong ability to meet the dual objectives of providing liquidity and preserving capital for their investors.
ING (L) Liquid Euro is a money market fund only aimed at institutional and corporate clients. It invests in money market instruments such as commercial paper, floating rate notes, government and corporate bonds and deposits. The benchmark is the Euro Overnight Index Average (Eonia).
The investments objectives for ING (L) Liquid Euro are built around three fundamental points, which are: maximize safety, provide daily liquidity (with same day value) and maximize return. Credit risk and interest rate risk are closely monitored while at the same time the liquidity of the fund is being managed. Moreover, very strict diversification rules are implemented to minimize the risk of defaults and thus safeguard the performance.