Standard & Poor's Affirms LOM Money Market Fund Rating
Standard & Poor's has affirmed the AAAm rating on the LOM Money Market Fund Class A, a class of LOM Asset Management's flagship Money Market Fund. The class has been rated AAAm by Standard and Poor's since March, 2001.
Hamilton, Bermuda (PRWEB) September 5, 2008 -- Standard & Poor's has affirmed the AAAm rating on the LOM Money Market Fund Class A, a class of LOM Asset Management's flagship Money Market Fund. The class has been rated AAAm by Standard and Poor's since March, 2001.
Money market fund ratings, identified by the 'm' subscript, are assigned to funds or pools that exhibit stable net asset values. The rating indicates that the fund has an extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit, market and/or liquidity risks. Money market funds are rated on a seven category scale from AAAm to CCCm.
Standard & Poor's reviews portfolio composition reports, for all rated money funds, on a weekly basis. These reports provide current information on the holdings of a fund, weighted average portfolio maturities, net asset values, and investor subscriptions and redemptions. An annual, onsite review of the fund was conducted by Standard & Poor's analyst, Guyna Johnson.
"The affirmation of the rating demonstrates the commitment of our portfolio team to provide clients with the safest possible investments", commented LOM Asset Management General Manager Jon Heckscher. "As a matter of policy we have not invested in the types of securities that have plagued many of the larger investment funds."
The LOM Group is an offshore international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bahamas, Bermuda and Grand Cayman and a marketing office in London, England. In business for over 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world.
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