Capital Advisors Adds ICA
A press release entitled, "New Capital Advisors Group Insured Liquidity Accounts Provide Alternative to Money Market Funds" says, "Today, Capital Advisors Group, Inc. announced the availability of its new Capital Advisors Group Insured Liquidity Accounts. Capital Advisors Group Insured Liquidity Accounts provide each account holder with up to $100 million in deposit insurance backed by the full faith and credit of the U.S. Government via one convenient account, and present institutional investors with an alternative to money market funds and traditional bank deposit accounts. Depositing cash throughout a network of more than 600 FDIC-insured banks, Capital Advisors Group Insured Liquidity Accounts offer a competitive yield relative to money market funds, U.S. Treasuries, commercial paper and traditional bank deposit accounts, as well as next-day liquidity with no withdrawal penalties, transaction fees, or liquidity gates. "Money market fund reform and the floating NAVs, redemption fees, and liquidity gates now associated with institutional prime money market funds have caused treasurers to search for new short-term investment solutions, but comparable alternatives can be hard to find," said Ben Campbell, founder and CEO of Capital Advisors Group. "We are offering our clients a new product that offers convenience that is similar to that of institutional prime money market funds." The new Capital Advisors Group Insured Liquidity Accounts expand the firm's commitment to separately managed account solutions that are designed to provide safety of principal, liquidity, and yield." (See our previous "Link of the Day," "ICD Adds StoneCastle's FICA to MMF Portal.")
