S&P Affms 'AAAm' Rtgs On Intl Currency Fund Portfolios.LONDON--(BUSINESS WIRE)--Standard & Poor's CreditWire 9/22/98 -- Standard & Poor's today affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its triple-'Am' money market fund ratings on the four portfolios in The International Currency Fund (Master Feeder Fund Feeder Fund A fund that conducts virtually all of its investing through another fund (called the master fund). Notes: This is similar to a fund-of-funds arrangement, except that the master fund manager is responsible for managing the underlying investments. ) and the four subfunds of both the SSgA International Liquidity Fund (U.S. Feeder Fund, formerly the Five Arrows Short-Term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. Investment Trust) and the SSgA Cash Management Fund PLC (Irish Feeder Fund, formerly the Five Arrows Cash Management Fund PLC). (See list below.) The rating affirmation A solemn and formal declaration of the truth of a statement, such as an Affidavit or the actual or prospective testimony of a witness or a party that takes the place of an oath. An affirmation is also used when a person cannot take an oath because of religious convictions. follows State Street Bank and Trust Co. decision to acquire The International Currency Fund and its two Feeder Funds from the Rothschild Group. The International Currency Fund (Master Feeder Fund) will be managed by State Street Bank and Trust Co. replacing the previous manager Rothschild International Asset Management Ltd (RIAM). However, State Street Bank and Trust Co. has initially appointed RIAM to continue to manage the fund until further notice. The fund's management and investment objectives will accordingly remain unchanged and will focus on 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 stability of principal. The fund will continue to comply with triple-'Am' rating criteria. Both the U.S. and the Irish Feeder funds will maintain the same investment objective through direct investment in the Master Feeder feeder abbreviation for self-feeders. Used in feeding groups of animals at intervals of several days. Feed has to be dry and comminuted so that it will run down the spouts from the hopper into the troughs. portfolios of the corresponding currencies. Administration and custodial arrangements will remain unchanged for all portfolios/funds of the Master Feeder fund and the Irish and U.S. Feeders. The fund administration will continue to be performed by BISYS Fund Services in Dublin. Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. (Ireland) Ltd. will continue to act as 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. for both Feeders and Master funds. State Street Global Advisors U.K. Ltd. will replace Rothschild Asset Management Ltd. as distributor of the Irish Feeder Fund, and Russell Fund Distributors Inc., acting for State Street, will replace Five Arrows Fund Distributors Inc. for the distribution of the U.S. Feeder Fund, Standard & Poor's said. -- CreditWire -0- AFFIRMED RATINGS The International Currency Fund US Dollar Portfolio AAAm The Pound Sterling Portfolio AAAm Deutsche Mark Portfolio AAAm Canadian Dollar Portfolio AAAm SSgA International Liquidity Fund (Formerly named Five Arrows Short-Term Investment Trust) US Dollar Fund AAAm The Pound Sterling Fund AAAm Deutsche Mark Fund AAAm Canadian Dollar Fund AAAm SSgA Cash Management Fund PLC (Formerly named Five Arrows Cash Management Fund PLC) US Dollar Fund AAAm The Pound Sterling Fund AAAm Deutsche Mark Fund AAAm Canadian Dollar Fund AAAm |
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