Goldman Sachs Asset Management (GSAM) has introduced Fund Tracker, a new feature for its Global Liquidity Service Portal, which will improve users' risk management capabilities and enhance transparency around money market funds.
The move comes in response to the US Securities and Exchange Commission's new rules regulating money market mutual funds, which were announced this July and are now in implementation.
Under new regulations, institutional prime funds will be required to float their daily Net Asset Values (NAVs) and all funds, other than government funds, must have liquidity fee and redemption gate features that can be implemented at certain liquidity levels. All funds will also be required to increase transparency into their portfolios through more frequent holdings disclosure.
Fund Tracker was developed to offer a deeper look into money market fund metrics as investors prepare for the rules to go live. Those include multiple key data points such as weighted average maturity (WAM), weighted average life (WAL), portfolio size, yield, market value NAV (MVNAV), and liquidity levels, with the ability to look at trends over time and in comparison to the minimum regulatory requirements.
Clients can also view those data points in the context of other fund analytics, such as portfolio assets, interest rate risk measures, and performance, and create user-defined notifications to stay informed.
“Leveraging over 30 years of experience managing risk in money market funds, GSAM continues to help corporate treasurers better understand their portfolios,” says Kathleen Hughes, managing director and head of sales for Global Liquidity. “This is another tool we are providing clients in response to feedback that they wanted a more centralized and consistent way to see risk exposures and monitor fund metrics.”
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