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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Two ‘Money Market Funds’ introduced

Two ‘Money Market Funds’ introduced

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
NDB Aviva Wealth Management has introduced two Money Market Funds, so savers can get the best out of the current high interest rates in the market.

The funds, which are branded ‘Eagle Money’ and ‘Eagle Money Plus’ are another addition to the series of mutual funds offered under the ‘Myeaglefunds’ umbrella of funds.

‘Eagle Money’ is a money market account which invests client deposits exclusively in short term Government of Sri Lanka treasuries.

“It is ideal for clients who want a very high level of safety for their capital, good returns and the ability to withdraw their money anytime,” NDB Aviva Wealth Management CEO Prabodha Samarasekera said discussing the advantages of the fund.

‘Eagle Money Plus’ is a money market account which will invest client deposits in short term Government of Sri Lanka treasuries and corporate debt such as commercial paper, bank fixed deposits, and structured paper.

“This is a great opportunity for clients to benefit from the high rates currently offered by corporate debt and bank deposits while having the flexibility to withdraw anytime,” Assistant Vice President Ruwan Perera said.

In Sri Lanka, investors in corporate debt and fixed deposits have to hold on to their investments until they mature to get their funds back. However, the money market funds offer a great solution to this problem by allowing client funds available to them when they need funds while paying high rates.

Further, the clients who make deposits in to the ‘Eagle Money Plus’ account achieves immediate diversification of the institutions where his or her money is invested in, thus adding to the safety.

“Usually most individuals will use a single bank or a finance company for their deposits as it is very tedious to open, maintain and track multiple accounts. But clients are taking an enormous risk when they limit themselves to a single institution when maintaining their deposits,” added Perera, explaining the automatic diversification the ‘Eagle Money Plus’ account achieves for clients.

He further stated that “like the ‘Eagle Money’ account, the ‘Eagle Money Plus’ account is well suited for clients who like safety of capital and great returns to go with it”.

Both ‘Eagle Money’ and ‘Eagle Money Plus’ accounts offer clients tax free income. “This makes it ideal for companies which have short term cash surpluses but have to pay high rates of tax,” said Assistant Vice
President Vindhya Jayasekera, who manages the ‘Eagle Money’ and ‘Eagle Money Plus’ funds.

Money market accounts are like high interest paying savings accounts and are very common in countries such as the USA. Money market accounts in the USA have become so popular it has replaced bank savings accounts and has withstood the stresses of the financial markets collapse of 2008.

NDB AVIVA Wealth Management Limited is the largest private sector wealth management company in Sri Lanka with over 20 years of industry experience. The company manages around Rs. 50 billion of funds for institutional and individual investors. Its service offering includes discretionary portfolio management, private wealth management and mutual funds – which are branded as ‘MYeaglefunds’ – and is the asset management arm of the NDB Capital Holdings, the leader in investment banking and capital markets in Sri Lanka.
http://www.ft.lk/2012/08/02/two-money-market-accounts-launched-by-ndb-aviva-wealth-management/

2Two ‘Money Market Funds’ introduced Empty Two ‘Money Market Funds’ introduced Sun Aug 05, 2012 12:47 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
By The Nation

NDB Aviva Wealth Management has introduced two Money Market Funds, from which savers can get the best out of the current high interest rates in the market. The funds which are branded as ‘Eagle Money’ and ‘Eagle Money Plus’ are another addition to the series of mutual funds offered under the ‘MYeaglefunds’ umbrella of funds.

‘Eagle Money’ is a money market account which invests client deposits exclusively in short term Government Treasury Bills. “It is ideal for clients who want a very high level of safety for their capital, good returns and the ability to withdraw their money anytime” said the CEO of NDB Aviva wealth Management, Prabodha Samarasekera discussing the advantages of the fund.

‘Eagle Money Plus’ is a Money Market Account which will invest client deposits in short term Government Treasury Bills and corporate debt such as commercial paper, bank fixed deposits, and structured paper. “This is a great opportunity for clients to benefit from the high rates currently offered by corporate debt and bank deposits while having the flexibility to withdraw at anytime,” said the Ruwan Perera, Assistant Vice President, NDB Aviva Wealth Management.
Both ‘Eagle Money’ and ‘Eagle Money Plus’ accounts offer clients tax free income. “This makes it ideal for companies which have short term cash surpluses but have to pay high rates of tax” said Ms. Vindhya Jayasekera, Assistant Vice President of NDB Aviva Wealth Management.

Money market accounts are like high interest paying savings accounts and are very common in countries such as the USA. Money market accounts in the USA have become so popular it has replaced bank savings accounts and has withstood the stresses of the financial markets collapse of 2008.
http://www.nation.lk/edition/biz-news/item/8953-two-%E2%80%98money-market-funds%E2%80%99-introduced.html

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