A press release entitled, "HSBC introduces automated liquidity investment tool," says that "HSBC, a global leader in global liquidity solutions, today announced the launch of a powerful new tool that will enable treasurers to automate the allocation and investment of excess cash." It explains, "Liquidity Investment Solutions (LIS) gives Corporate and Institutional clients the ability to invest and redeem their excess cash across an array of investment options, including a choice of asset managers. Once the client has defined their investment policy, including their risk and liquidity parameters, LIS executes their investments/redemptions accordingly with nominated money market funds of HSBC Global Asset Management Group, BlackRock, Goldman Sachs Asset Management and/or J.P. Morgan Asset Management." We excerpt from HSBC's release, and we also review our upcoming European Money Fund Symposium (Sept. 20-21 in London) below.
HSBC's release explains, "With LIS, clients can maintain daily liquidity for transactional purposes while automatically investing their surplus cash on a daily, weekly or monthly basis. This ensures clients can optimise their investments while having sufficient funds available for daily operations. At a time when interest rates remain low and cash holdings are at an all-time high the solution provides transparency of the investment process in a controlled environment and assures compliance with each client's investment mandate. LIS frees up treasurers from the daily process of cash prediction and investment to focus on adjusting their investment strategies as the market environment changes."
Tom Schickler, Global Head of Products, Liquidity and Cash Management, adds, "Now, more than ever, treasurers need to manage an increasing array of risks while delivering appropriate returns on cash holdings. LIS is the ideal solution to help our clients focus on their investment strategy rather than execution. Automating cash placement into money market funds allows treasurers to optimise excess cash and reduce the time spent on monitoring and executing investments."
The press release continues, "LIS gives treasury professionals access to a range of triple-A rated money market funds providing daily liquidity from a range of Asset Managers -- enabling clients to integrate multiple investment vehicles across different geographies and counterparties. With LIS clients are able to consolidate their investment activities, gain efficiencies, enhance controls and be in position to evidence compliance with their investment mandate. Monitoring liquidity positions, executing and reconciling trades and the associated compliance reporting has become increasingly burdensome for clients. HSBC has responded with a solution that will evolve with changes to their investment mandate."
Schickler concludes, "Cash holdings are at an all-time high. At the same time the complexity and associated cost of compliance continues to increase. LIS offers clients a tool that dynamically rebalances cash holdings between transactional cash and their investment portfolio while satisfying their security, liquidity, yield, reporting and compliance requirements."
In other news, we continue to make preparations for our 4th annual European Money Fund Symposium, scheduled for Sept. 20-21 at the Hilton London Tower Bridge in London, England. The agenda is now all set for this year's show, registrations are being accepted (tickets are $1,000 USD or L750 Pound sterling). We encourage anyone planning to attend to make hotel reservations asap. (Click here for Hotel info or here to make reservations.)
Crane's European Money Fund Symposium is the largest money market event in Europe. Our event last year in Dublin attracted 120 attendees, sponsors and speakers, and we expect our return to London to be even bigger. EMFS offers European, global and "offshore" money market portfolio managers, investors, issuers, dealers and service providers a concentrated and affordable educational experience, as well as an excellent and informal networking venue. Our mission is to deliver the best possible conference content at an affordable price to money market fund professionals.
The EMFS agenda features sessions led by many of the leading authorities on money funds in Europe and worldwide. The Day One Agenda for Crane's European Money Fund Symposium includes: "Welcome to European Money Fund Symposium" with Peter Crane of Crane Data; followed by "IMMFA Update: The State of MMFs in Europe" with Reyer Kooy and Jane Lowe of IMMFA; "Beyond MMFs: Enhanced Cash Strategies" with Jason Granet of Goldman Sachs AM, Neil Hutchison of JP Morgan AM, and Peter Yi of Northern Trust; "Senior Portfolio Manager Perspectives," with Joe McConnell of JPMAM, Jonathan Curry, of HSBC Global AM, and Deborah Cunningham of Federated Investors; and "French Money Funds, VNAV & Negative Rates," with Charlotte Quiniou of Fitch Ratings and Vanessa Robert of Moody's Investors Service.
Day One also includes: "MMFs in Asia: China, Japan, and Beyond" with Andrew Paranthoiene of Standard & Poor's and Fitch Rating's Charlotte Quiniou; "US Money Funds: Adapting to Reforms" with Charlie Cordona of BNY Mellon Cash Investment Strategies and Peter Crane; and "UK Sterling MMF Issues" with Dennis Gepp of Federated UK and Jennifer Gillespie of Legal & General IM.”
The Day Two Agenda includes: "The Changing Face of European MMFs" with Rudolf Siebel of BVI and Sean Tuffy of BBH; "New Regulations: Devil in the Details" with Dan Morrissey of William Fry and John Hunt of Sullivan and Worcester; "Strategists Speak: Negative Rates and Reforms" with Giuseppe Maraffino of Barclays and Vikram Rai of Citi.
The afternoon of Day Two features: "Supply Dynamics and Liquidity" with Kieran Davis of Barclays and David Hynes of Northcross Capital LLP; "Risks and Ratings: Areas of Concern and Changes" with Marc Pinto of Moody's and Alastair Sewell of Fitch Ratings; "Distribution & MMF Investor Issues" with James Finch of UBS Global AM, Jim Fuell of JP Morgan AM, and Kevin Thompson of SSGA; and "Offshore Money Fund Data, Holdings, and Portals with Peter Crane, Ryan Kipp of Cachematrix, and Maryum Malik of FIS Global. We hope to see you in London!
