Crane Data Subscribers
Standard and Poor's Rates JPMorgan Japanese Yen Money Fund AAA. Standard & Poor's recently "assigned its 'AAAm' principal stability fund rating to the JPY Money Market Fund, a new Japanese yen-denominated money market subfund of JPMorgan Global Funds". The fund is managed by J.P. Morgan Asset Management (U.K.) Ltd. and is aimed at European and Asian institutional and corporate clients for cash management purposes". The release says, "JPMorgan Global Funds is an Irish open-ended umbrella unit trust, which qualifies as an undertaking for collective investment in transferable
securities (UCITS). The JPY Money Market Fund ... is distinguished by its high credit quality, low market risk, and liquidity. Its investments consist primarily of high quality short-term securities, money
market instruments, and Japanese government securities held directly or through repurchase agreements". (For more on Japanese money funds, see too Crane Data News 5/1/07 "S&P Rates First Japanese Yen-Denominated Money Market Mutual Fund, Goldman Sachs Yen Liquid Reserves".) S&P also announced that is has withdrawn its 'AAAf/S1+' rating on GEAM Cash Plus Fund at the advisor's request. "GE Asset Management Inc. no longer markets the fund," said the release.
