Reuters writes "Aviva moves to calm money market fund investors". The article discusses the move by "offshore" money funds Aviva Investors Euro Liquidity Fund and the Aviva Investors Sterling Liquidity Fund to shift to a variable NAV from constant NAV. Reuters says, "Aviva Investors said on Wednesday the pricing of its Sterling and Euro liquidity funds will now be allowed to fluctuate according to mark-to-market valuations. Previously, both funds used a constant net asset value (CNAV) policy to keep NAV stable at 1 pound per share by distributing profits to investors or using dividend yield to boost NAV should it fall.... Richard Warne, Aviva Investors' head of institutional distribution, denied the move signalled the funds were poised to 'break the buck', or fall below the 1 pound NAV implied by CNAV." Some speculate the move was intended to avoid an immiment downgrade from Moody's based on the ratings agency's new parental support criteria (see Crane Data News from Wed.). See also `"Moody's changes ratings designation of Aviva GBP and Euro Funds "

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
March December December
February November November
January October October
September September
August August
July July
June June
May May
April April
March March
February February
January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September