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ARTICLE · 15 NOVEMBER 2011

UCITS Money Market Funds

Dillon Eustace
Dillon Eustace
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Whilst many UCITS will invest principally in money market instruments and may consider themselves to be money market funds, there are only certain funds which are permitted by the Central Bank to refer to "money market fund" in its title.

IrelandWealth Management
Dillon Eustace
Dillon Eustace
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Originally published in A Guide to UCITS in Ireland

Whilst many UCITS will invest principally in money market instruments and may consider themselves to be money market funds, there are only certain funds which are permitted by the Central Bank to refer to "money market fund" in its title.

Previously, only UCITS established as constant NAV Funds or accumulating NAV funds, with the principal objective to preserve principal and maintain liquidity and which obtained a triple A rating from an internationally recognised rating agency together with a supplementary market risk rating (or which had management companies / investment managers with demonstrable expertise in the operation of money market funds, which used amortised cost valuation) were permitted to use the term "money market fund" in their title and follow an amortised cost valuation methodology.

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