MMAM launch

Merrill Lynch Mercury Asset Management (MMAM) has launched a Dublin-domiciled money market umbrella fund specifically targetted at insitutional investors. Merrill Lynch Mercury Institutional Liquidity Funds is being offered in three currencies, dollar, sterling and euro and is triple A rated by both S&P and Moody's. The fund, which falls under the UCITS directive has to date attracted interest from the non-US subsidaries of US multinationals, UK and European corporates. Anthony Simpson, managing director at MMAM in London says: We see this as a very high growth product. Because of the combination of our proven track record in fixed income and our client service orientation, and our knowledge of the client base makes us virtually uniquely qualified to deliver a product like this.""

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