LOM money market fund retains AAAm 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 fund 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 (highest) to CCCm (lowest).
S&P'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 S&P's analyst, Guyna Johnson.
"The affirmation of the rating demonstrates the commitment of our portfolio team to provide clients with the safest possible investments", said LOM Asset Management general manager Jon Heckscher. "It is also a testament to our team that we have been able to perform in the top quartile of all offshore US Dollar money funds this year."