ICD Money Fund Assets Break $250B
A press release entitled, "ICD Announces 37% Year-Over-Year Growth in 2023," tells us, "ICD, provider of institutional investment technology, closed the year ending December 31, 2023 with money market fund (MMF) assets on ICD Portal eclipsing $250 billion. ICD's 37% year-over-year increase outpaced the market's 18% increase in institutional MMF assets tracked over the same period by the Investment Company Institute (ICI)." ICD Chief Executive Officer Tory Hazard comments, "ICD's spectacular growth and benchmark outperformance demonstrates the desire of corporate treasury professionals and other institutional investors to access short-term markets without bias through an independent portal. Both new and existing ICD clients find our high-touch service, broad selection of investment products and intuitive technology, second to none." The release continues, "ICD's community of over 500 invested clients increased 17% in 2023 versus 2022, while ICD maintained a 99% client retention rate. In October last year, Crane Data ranked ICD the largest U.S. investment portal by assets for institutional money market fund investments." It tells us, "Building on its 20-year history of co-innovating with clients to solve investment challenges, ICD also launched its AI-driven ICD Portfolio Analytics solution to automate the process of creating a comprehensive view of a company's entire investment portfolio for reporting and managing portfolio risk, including counterparty risk." Indivior Treasurer Bill Lundeen adds, "ICD Portfolio Analytics incorporates our underlying fund holdings with other investment positions, making it possible to see our true exposures across all of our investments. This is invaluable given the heightened focus on exposures due to the 2023 bank failures."
