Ostrum ready for money market fund regulations

Paris-based Ostrum Asset Management says it is ready for the key changes in money market fund regulation that take effect later this month.

The firm praised its custodian, Caceis, for helping it comply with the European Money Market Funds (MMF) regulation before the January 21 deadline.

The MMF regulation is a package designed to make money market funds more resilient to financial market risks and to limit dangers of cross-border contagion. The regulation includes changes to the valuation methods that must be applied to financial instruments held in MMFs.

Ostrum used a “fund administration and depositary control solution” developed by Caceis specifically for the new rules.

Ostrum’s head of market risk management, Simon Logeay, said that by using the system, all of its MMFs were compliant with the regulation well before the January 21, 2019 deadline.

©2019 funds europe

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