Crane Data Subscribers
SP Rates HSBC Govt 'AAAm', Lehman Dublin Enhanced Cash 'AAAf/S1'. Standard & Poor's Rating Services has rated HSBC Investors U.S. Government Money Market Fund 'AAAm' in principal stability, the highest rating for a stable net asset value (NAV) fund. HSBC Investments is the advisor and Northern Trust is the custodian. The fund's objective "is to provide shareholders with liquidity and as high a level of current income as is consistent with the preservation of capital". The fund invests 80% of its assets in "obligations issued of guaranteed by the U.S. Government, its agencies, or instrumentalities with maturities of 397 days or less". HSBC is the 25th largest manager of U.S. money funds with over $20.5 billion. The HSBC complex was the fastest-growing money fund family in 2007, according to Crane Data's Money Fund Intelligence Distribution Survey. S&P also assigned a 'AAAf/S1' (non-money fund) rating to Lehman Brothers Liquidity Funds PLC Short Term Select Fund, which has a beyond enhanced cash "targeted return of U.S. dollar one-month LIBOR plus 50 basis points (bps)". Lehman also offers the AAAm-rated Dublin-based money funds, Lehman Euro Liquidity Fund, Lehman Sterling Liquidity Fund, and Lehman US Dollar Liquidity Fund. S&P also recently rated LGIM Liquidity Funds Plc - LGIM Sterling Liquidity Fund 'AAAm', managed by London-based Legal & General Investment Management Ltd..
