BNP Launches EUR Govt Money Fund
A statement titled, "BNP Paribas Asset Management announces launch of new Money Market Fund: BNP Paribas InstiCash EUR Government CNAV SICAV," tells us, "BNP Paribas Asset Management is pleased to announce the launch of the BNP Paribas InstiCash EUR Government CNAV SICAV, a AAA-rated Money Market fund that offers investors a cash management solution targeting capital preservation. The fund's sovereign-backed assets aim to provide structural resilience, making it an attractive option for investors seeking a low-risk solution for their day-to-day cash management." The release continues, "The BNP Paribas InstiCash EUR Government CNAV SICAV is a public debt constant net asset value money market fund that invests at least 99.5% of its assets in public debt instruments. The fund targets minimal volatility of its NAV, providing both a stable NAV at 1.00 EUR and a variable NAV, combined with high daily and weekly liquidity buffers and amortised cost valuation method. It seeks to achieve a return in EUR in line with prevailing money market rates, over a 1-day period, while aiming to preserve capital and maintain a high degree of diversification." Marc Fleury, Head of Liquidity Solutions at BNP Paribas Asset Management, comments, "The launch of the BNP Paribas InstiCash EUR Government CNAV is a significant addition to our €170 bn Liquidity Solutions range. We are excited to offer investors a product that combines active management of rate and credit duration.... There continues to be investor appetite for high-quality, low-risk solutions for day-to-day cash management. The CNAV fund can potentially provide a safe haven for investors seeking to preserve capital and maintain liquidity." Note: This fund and European money market funds are not available for purchase by U.S. investors. See our latest Money Fund Intelligence International for information on European money market funds and mark your calendars for our next European Money Fund Symposium, which will be held Sept. 24-25 in Paris, France.
