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Laxman Pai, Opalesque Asia:

Northern Trust Asset Management will migrate the Sterling and US Dollar sub-funds of its Irish UCITS money market funds, Northern Trust Global Funds plc, from constant net asset value (CNAV) to low volatility net asset value (LVNAV).

A press release from the company said that the move rounds out the firm's European money market fund offering, which includes The Sterling and The US Dollar funds and the short-term variable net asset value (VNAV) The Euro Liquidity Fund.

The product line up will provide investors with access to fund structures within the construct of the new European Money Market Reform (European MMFR) regulation consistent with the funds current investment approach, it said.

The release quoted Peter Yi, Northern Trust Asset Management's director of cash management as saying: "As one of the world's largest cash managers, we are experienced in helping investors navigate changing market environments - and in delivering investment solutions to meet their needs."

Responsible for more than US$236 billion in cash management worldwide as of 30 June 2018, Northern Trust has a history at the leading edge of cash solutions: it was among the first asset managers to introduce a VNAV money market fund, the Euro Liquidity Fund, for European investors in 2014.

"With our existing VNAV offering, and the transition of our US and Sterling funds to an LVNAV structure, we're confident we can continue to meet investors' evolving l......................

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