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January 2019

European Money Market Regulation

Following the approval of the prospectuses of the Pictet – Short-Term Money Market funds by the Commission de Surveillance du Secteur Financier (CSSF) on January 21st 2019, we are pleased to announce that the following funds are fully compliant with the new European Money Market regulation in the category Short-Term Variable NAV (VNAV):

  • Pictet – Short- Term Money Market EUR
  • Pictet – Short- Term Money Market USD
  • Pictet – Short- Term Money Market CHF
  • Pictet – Short- Term Money Market JPY
  • Pictet – Sovereign Short-Term Money Market EUR
  • Pictet – Sovereign Short-Term Money Market USD

 

The main features of the new regulation are:

  • Liquidity requirements (daily and weekly) 
  • Rigorous and documented Credit Quality Assessment (CQA) by fund managers provided to the regulator
  • Application of a prudent ‘Know Your Customer’ (KYC) policy
  • Greater transparency of information both to investors and the regulator:
    • Weekly information  on WAM and WAL, total assets, net yield, portfolio breakdown by maturity, credit profile and 10 largest investment holdings