Asset managers and corporations seeking diversification of assets, liquidity and opportunity for enhanced yield may be ideally suited to using money market funds.
(Vocus) November 17, 2010
SunGard has expanded its SunGard Global Network (SGN) Short-Term Cash Management portal to include Australian Money Market Funds. The SGN portal helps cash managers efficiently research, trade and report on their money market fund investments, while diversifying their investment options and establishing global best practices.
While corporations, insurance companies, pension funds and other cash investors in Australia typically invest cash in overnight holdings with banks, many are seeking greater yield, liquidity, diversification and ease of use. As part of an initiative to deliver the portal to customers in the greater Asia-Pacific region, SunGard’s expansion of the portal into Australia includes funds from Goldman Sachs Asset Management & Partners Australia Pty Ltd., and Colonial First State Investments Limited.* The SGN portal helps cash managers simplify tasks and limit the risk of errors. It also helps them integrate information into their treasury systems, including SunGard’s AvantGard corporate treasury, cash and risk management solution, and increase transparency with fund managers by providing a wide variety of fund portfolio data.
Subash Pillai, head of fixed interest and multi-sector at Goldman Sachs Asset Management & Partners Australia Pty Ltd, said, “In today’s more volatile credit environment, investors are increasingly focused on managing the credit risks associated with their cash and short term liquidity holdings. As a result, we are seeing a trend towards AAAm rated MMFs due to the ability of specialist investment managers to assess credit and liquidity risks.”
Tony Togher, head of short-term investments at Colonial First State Global Asset Management, said: “Asset managers and corporations seeking diversification of assets, liquidity and opportunity for enhanced yield may be ideally suited to using money market funds.”
John Vander Vennet, managing director, Asia-Pacific for SunGard’s wealth management business, said,
“It is our experience that since the global financial crisis, corporations, super funds and fund managers tend to hold greater amounts of liquid assets, including cash reserves. SunGard’s Short Term Cash Management portal provides treasurers and asset managers with easy access to a wide variety of money market funds through which they may readily invest these assets. We look forward to working with both investors and money managers in extending SGN’s presence in Australia and more broadly throughout Asia, as well as expanding opportunity for US and European investors already on the portal.”
About SunGard Global Network
A trade automation and connectivity solution, the SunGard Global Network links institutions throughout the financial services value chain, offering services for equity, fixed income securities, listed derivatives, mutual funds, money market funds and other cash equivalents. The SunGard Global Network helps automate the entire trade lifecycle from order execution through to post-trade processing. It provides access to 110 markets worldwide and connects the buy-side, third party networks, broker/dealers and investment companies, including more than 2,000 asset managers and 500 broker connections. Its international connectivity hubs also support low-latency market data delivery from global markets.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, visit http://www.sungard.com.
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