Website Citywire writes that, "Groupama reworks money market fund as ultra short term bond." The article says, "French fund house Groupama has reshaped a money market fund into an ultra-short term bond fund in a bid to open the strategy up to new investors. In line with the change in strategy, the Groupama Cash Equivalents fund has been renamed as the Groupama Ultra Short Term Bond fund. The strategy continues to be eligible as a cash equivalent, which is required to invest in short-term, liquid and easily convertible instruments with little sensitivity to variation risk. The fund targets investment grade bond and money market instruments, denominated in euros with the aim of exploiting sensitivities to interest rates, geographical and sector allocation as well as a rigorous selection of issuers." It adds, "Explaining the decision to rename the fund, the group said it was so that its new designation is closely aligned with the typologies of investors. In addition, the group was looking to internationalise the name of the fund beyond just the French borders."

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