Butterfield Asset Management (BAM) has won an Offshore Money Fund Award from iMoneyNet.

The Butterfield Money Market Fund (Euro Class) was cited as the top Euro-denominated fund reporting to iMoneyNet's Offshore Money Fund Report.

John Humphreys, manager of the Butterfield Money Market Fund (Euro Class), was also named top money market fund manager.

Ian Coulman, BAM's managing director, said that in these turbulent economic times, this prestigious iMoneyNet award is a welcome endorsement of Butterfield's leading investment products and high level of customer care.

"In the past decade BAM has won several top place performance awards for its family of mutual funds, outperforming some of the largest fund managers and banks in the world," Mr. Coulman said.

"In addition to mutual funds, BAM offers portfolio management and advisory services to private and institutional clients."

iMoneyNet said the Butterfield Money Market Fund (Euro Class) enjoyed a 2008 gross total return of 4.63 percent and was the top performing fund in the Euro fund universe comprised of 12 portfolios that had assets of at least 100 million euros but less than one billion euros, and one year total returns for 2008.

iMoneyNet's managing editor Connie Bugbee said: "This award is based on gross total return for the 12 months ending 31 December 2008. Return figures are tracked daily, weekly, and monthly by iMoneyNet's editors and statisticians."

This 2009 Award follows BAM's 2007 iMoneyNet Award for the Butterfield Money Market Fund (US dollar class) in the category of funds with at least $100 million of assets as of December 2006.