Products May 6, 2010

State Street Analytics Aimed at Money-Market Funds

State Street has developed a suite of money-market fund services designed to help advisers comply with new amendments to the Rule 2a-7 regulations governing money-market funds.
Reported by

State Street said the new capabilities help funds manage new liquidity, maturity, and credit quality guidelines for disclosure and reporting.

The new capabilities include new weighted average life (WAL) calculation and a monthly portfolio of investment statements and data. State Street will also aggregate data to prepare the new Form N-MFP for Securities and Exchange Commission (SEC) filing on a monthly basis (see “SEC Adopts New Rules for Money Market Funds” ).

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State Street said the stress tests detail fund performance in response to hypothetical market scenarios, supplying fund managers with the analytical information necessary to assess a fund’s ability to maintain a stable NAV.

Pre-set scenarios that are tested include interest rate shifts, increased shareholder redemptions, downgrades or defaults on portfolio securities, widening and narrowing of spreads, and “combination events”—an amalgamation of interest rate, credit, and liquidity tests.

The analytics package can also perform historical stress tests based on past crisis events, such as assessing the impact of the market events of September 2008 on a fund’s current portfolio holdings. These stress tests can be generated on a monthly, weekly, or daily basis, according to State Street.

Deals & People May 6, 2010

401(k) Advisors Adds Consultant to Team

Retirement plan consulting firm 401(k) Advisors said that Pamela Watson has joined its team as a plan consultant.
Reported by

According to an announcement, with nearly 20 years of industry experience, Pamela’s prior work history includes time at a wealth management company and several years as an investment analyst for an options trading firm.

Located in the firm’s headquarters in Aliso Viejo, California. Watson will work with local clients to achieve fiduciary best practices and deliver ongoing investment due diligence. 

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401(k) Advisors specializes in retirement plan consulting for major and mid-sized private and institutional plan sponsors, and currently oversees $10 billion in assets under advisement. Offices are located in the Midwest, Northeast, Southeast, Southern, and Western regions of the U.S. 

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