HedgeCo.net – NEW YORK, May 1, 2007 – The Reserve, the leading innovator in cash management, announced that its Liquid Performance Fund was ranked the highest yielding prime money market fund by Crane Data, as of 3/31/07.*
“As hedge funds, venture capitalists and institutional asset managers seek an edge to make their cash positions work harder, The Reserve continues to provide innovative cash management solutions that define the industry standard,” said Bruce Bent II, Vice Chairman of The Reserve.
The Reserve Liquid Performance Money Market Fund’s (RLMXX) investment objective is to seek as high a level of current income as is consistent with the preservation of capital and liquidity. It invests in repurchase agreements, U.S. government securities, corporate debt obligations, asset-backed securities, deposit-type obligations of domestic and foreign banks and instruments fully collateralized by such obligations.
“The Reserve designed this fund in response to demand from our clients. We are pleased to again meet the needs of the marketplace by providing a top performing fund, anchored by the strength, integrity and cash management expertise of Reserve Management.” says Zak Green, Vice President, Institutional Sales at The Reserve. “As our core competency is solely managing cash, The Reserve will continue to benefit from the clear trend of managers outsourcing their cash balances to specialists.”
Total assets at The Reserve hit a record of $60 billion (as of April 13, 2007), up more than 60% over the past year and 154% over the past 2 years.
About The Reserve
Founded in 1970, The Reserve is the leading innovator in cash management for the brokerage, banking and institutional marketplace. In addition to launching the world’s first money market fund, The Reserve has developed a full suite of innovative cash management solutions, including the industry’s first FDIC-insured money market sweep program, diverse money market fund offerings, unique bank cash sweep services and cutting-edge enhanced cash products. Today The Reserve manages more than $60 billion – serving millions of individuals and hundreds of institutions. Additional information is available at www.TheR.com.
