S&P Upgrades CS CHF and EUR
A press release entitled, "Credit Suisse Money Market Fund – USD Upgraded To 'AAAf'; CHF And EUR Funds Affirmed," tells us, "S&P Global Ratings ... raised to 'AAAf' from 'AA+f' its fund credit quality rating (FCQR) on Credit Suisse Money Market Fund – USD. At the same time, we affirmed our 'AAAf' FCQR on the Credit Suisse Money Market Fund – CHF and our 'AA+f' FCQR on the Credit Suisse Money Market Fund – EUR. We also affirmed our 'S1+' fund volatility ratings (FVRs) on all three of these Liechtenstein-domiciled money market funds, which are managed by Credit Suisse Asset Management (Schweiz) AG (CSAM). Our rating actions on these FCQRs reflects our quantitative view of the money market funds' high credit quality investments, as assessed via our Fund Credit Quality matrix. We raised our FCQR on Credit Suisse Money Market Fund – USD because of CSAM's conservative fund management.... The 'AAAf' FCQRs on Credit Suisse Money Market Fund – USD and Credit Suisse Money Market Fund – CHF signifies that we consider the funds' portfolios to be of extremely strong credit quality. The portfolio quality of the Credit Suisse Money Market Fund – EUR, which is rated 'AA+f', remains very strong." The release adds, "Credit Suisse Funds SICAV is an undertaking for collective investment in transferable securities (UCITS) in accordance with the Liechtenstein (LI) law of June 28, 2011, on undertakings for collective investment in transferable securities (the UCITS Act, UCITSA)." In other news, ETF Stream writes, "Vanguard slashes fees across ETF and index range." The article says, "Vanguard has laid down the gauntlet to its rivals in Europe by reducing the ongoing charges for 13 ETFs and 22 index funds. The firm's full line-up in the UK including ETFs, index funds and its actively managed fund range have an average ongoing charges figure (OCF) of 0.20%. The ETF index line-up has an average OCF of 0.10%.... Vanguard has also included the Vanguard Sterling Short-Term Money Market fund in the latest round of fee cuts, falling from 0.15% to 0.12%."
