Investec Intl UK/$ Cls Money Mkt Fnds Rtd AAAm by S&P.LONDON--(BUSINESS WIRE)--S&P CreditWire 1/5/98--Standard & Poor's today assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its triple-'Am' ratings to the Sterling Class and the U.S. Dollar Class of the Investec International Money Market Funds Ltd. The Fund has been established by Investec Management Co. (Jersey) Ltd. to offer private and institutional clients a high-quality, low-risk alternative to sterling and dollar deposits. Both classes have a number of features: -- High credit quality: the subfunds' investments are comprised exclusively of securities or deposits rated at least 'A-1' or considered equivalent by Standard & Poor's. Most securities are rated 'A-1'-plus. -- Low market risk: the subfunds are structured to minimize exposure to interest rate risk. The portfolios of both subfunds will maintain a weighted average maturity not exceeding 60 days. --Liquidity: the funds will offer daily dealing to investors. Money market fund ratings, identified by the 'm' subscript (1) In word processing and scientific notation, a digit or symbol that appears below the line; for example, H2O, the symbol for water. Contrast with superscript. (2) In programming, a method for referencing data in a table. , are assigned to funds or pools that exhibit stable net asset values. Those funds rated triple-'Am' by Standard & Poor's, the highest rating, exhibit a superior capacity to limit exposure to loss and maintain a constant or rising net asset value per share at all times. Money market funds are rated on a scale from triple-'Am' to triple-'Cm.' Standard & Poor's reviews portfolio composition reports, for all rated money funds, on a weekly basis. These reports provide current information on the holdings of a fund, its weighted average portfolio maturity, net asset value, and investors' subscriptions and redemptions. Investec International Money Market Funds Ltd. is an offshore, open-ended investment company incorporated on Sept. 26, 1997 in Jersey under the Companies (Jersey) Law 1991. The fund is governed gov·ern v. gov·erned, gov·ern·ing, gov·erns v.tr. 1. To make and administer the public policy and affairs of; exercise sovereign authority in. 2. under the regulations of the Collective Investment Funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company (Jersey) Law 1988. Both classes were launched on Jan. 5, 1998. The fund's investment objective is to achieve a superior return to that of cash deposits while offering a high level of liquidity and 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 . The investment manager, Investec Bank Investec (JSE: INL) is an international, specialist banking group that caters to the high-end market, providing a diverse range of financial products and services. History (UK) Ltd., is regulated by the SFA See sales force automation. SFA - Sales Force Automation in the U.K. Investec Bank (UK) Ltd is a member of the Investec banking group of South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . The administration and custody of the fund are managed by two distinct entities of the Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. group: Royal Trust Asset Management (CI) Ltd. and Royal Bank of Canada Trust Co. (Jersey) Ltd., respectively.Royal Bank of Canada is rated double-'A'-minus/Stable/'A-1'-plus by Standard & Poor's. --- CreditWire CONTACT: Marc Buffenoir, London (44) 171-826-3630 Nicholas Bradley, London (44) 171-826-3548 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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