GLOBAL - The ABN Amro Global Liquidity Fund grew by more than £700m in the first half of the year taking its total value to £2.2bn.
The GLF is an umbrella, open-ended investment company, consisting of three sub-funds – the US dollar, sterling and euro funds. It aims to provide an alternative to deposits.
ABN Amro’s working capital business management global head Ann Cairns said: “This is further evidence that ABN Amro’s holistic approach to clients’ working capital needs is the way forward.
“By combining our expertise in liquidity management with the investment tools of our asset management team, we have been able to provide a superior service to our clients.”
The Institutional Money Market Funds Association, of which ABN Amro is a founding member, recently noted an increasing popularity of triple-A rated money market mutual funds, which offer overnight liquidity and enhanced yields over other short-term investment options.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.