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Money Market Funds
"Excellent course presented in a very clear and understandable manner." Fund Administrator, Dublin
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Money Market Funds.pdfMoney Market Funds
Duration: One day
Course Overview
At the end of this course participants will be able to
- Describe the key features of money market funds and how they differ from other fund types
- Describe the main instruments used by money market funds
- Calculate fund yields, WAM & WAL
- Describe the amortised cost basis of valuation
- Explain how money market funds are priced
- Discuss the methodology behind money market fund ratings
- Describe the ESMA definitions of money market funds and short term money market funds
- Outline UCITS rules regarding money market funds
- Describe the essentials of Rule 2a-7
- Outline briefly some key recommendations from the IMMFA Code of Practice
Course Content
- Money market funds and other mutual funds
- Types & characteristics
- Instruments
- Overview
- Commercial paper
- Asset-backed commercial paper
- Certificates of deposit
- Repurchase agreements
- Floating rate notes
- Variable demand obligations
- Government securities
- Government agency securities
- Time and call deposits
- Constant NAV and Variable NAV funds
- Yield calculation
- Weighted average maturity (WAM)
- Weighted average life (WAL)
- Amortised Cost Net Asset Valuation (NAV) calculation
- Pricing and the marked-to-market NAV calculation
- Money market fund ratings
- Money market fund regulation
- European Securities and Markets Authority (ESMA) definitions
- UCITS rules
- Rule 2a-7
- Institutional Money Market Fund Association (IMMFA) Code of Practice
Who should attend?
Staff with some funds experence but with little or no experience of money market funds.
