CoreFund U.S. Dollar Cash Fund Rated AAAm by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 9/19/97 -- Standard & Poor's today assigned its triple-'Am' rating to the CoreFund Umbrella Cash Fund PLC - CoreFund U.S. Dollar Cash Fund. The CoreFund Umbrella Cash Fund PLC was established as an umbrella fund An umbrella fund is an investment term used to describe a collective investment scheme which is a single legal entity but has several distinct sub-funds which in effect are traded as individual investment funds. in that different classes of shares may be issued from time to time by the directors with the approval of the Central Bank. A separate portfolio of assets will be maintained for each class of participating shares and will be invested in accordance with the investment objective applicable to each portfolio. The CoreFund U.S. Dollar Cash Fund is the second fund offered under the umbrella structure. The first fund offered, the CoreFund Sterling Cash Fund, has maintained a triple-'Am' rating since February 1997. The investment objective of the CoreFund U.S. Dollar Cash Fund is to provide a high level of current income that is consistent with the preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at and liquidity by investing in a diversified portfolio of high quality money market securities. In pursuit of its investment objectives, the Fund will invest in securities, instruments, and obligations with remaining maturities Remaining maturity The length of time remaining until a bond comes due of 397 days or less. Shares of the Corefund U.S. Dollar Cash Fund will be denominated in U.S. dollars and the fund's objective will be to achieve a stable Net Asset Value (NAV See navigation system and navigation bar. ) and a rate of return in U.S. dollars. The CoreFund U.S. Dollar Cash Fund will commence operations in late September 1997. The manager for the umbrella fund, CoreStates Fund Management (Ireland) Ltd. has appointed CoreStates Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and Inc. ("CoreStates") as the Investment Manager for the U.S. Dollar Cash Fund. As the investment manager, CoreStates will be responsible for providing investment management and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . CoreStates (incorporated under the laws of Delaware) has its principal office in Philadelphia, Pa. and is registered as an investment advisor with U.S. Securities and Exchange Commission under the Investment Advisors Act of 1940. CoreStates is a wholly-owned subsidiary of CoreStates Bank, N.A., which is a subsidiary of CoreStates Financial Corporation. Bank of Ireland This article is about the commercial banking company Bank of Ireland. For the central bank of the Republic of Ireland, see Central Bank of Ireland. The Bank of Ireland (Irish: Banc na hÉireann Administration Services Limited is the Fund's administrator and the Fund's custodian bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. is The Governor and Company of the Bank of Ireland. The Fund's triple-'Am' rating is based on Standard & Poor's analysis of the Fund's credit quality, market price exposure, and management. The rating signifies excellent safety of invested principal and a superior capacity to maintain a $1 per share net asset value. This is accomplished through conservative investment practices and strict internal controls. Standard & Poor's will monitor the Fund on a weekly basis, Standard & Poor's said. -- CreditWire CONTACT: Peter Rizzo, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (1) 212-208-8057 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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