The London-based Institutional Money Market Funds Association (IMMFA) announced today that Standard Life Investments had joined the association. IMMFA now has 26 members, as follows:
ABN AMRO Asset Management (Fixed Income) LimitedAIM GlobalAon Advisors (UK) LimitedBank of AmericaBarclays Global Investors LimitedBlackRockBNP Paribas Asset ManagementCitigroup Asset Management LtdFederated Investors, IncFidelity Investments InternationalGartmore Investment Management plcGoldman Sachs Asset Management InternationalHSBC Asset Management (Europe) LimitediMoneyNet IncInvestec Asset ManagementJanus InternationalJP Morgan Fleming Asset ManagementMerrill Lynch Investment ManagersMoody’s Investors Service LimitedMorgan Stanley Investment Management LimitedNorthern Trust Global InvestmentsThe Royal Bank of ScotlandScottish Widows Investment PartnershipStandard & Poor’s Fund ServicesStandard Life InvestmentsState Street Global Advisors
IMMFA was established on 14 June 2000 as the trade association for providers of triple-A rated money market funds. Funds are currently domiciled in Dublin, Luxembourg and the Channel Islands. Total market size in Europe has risen from under a billion dollars in 1995 to in excess of US $130 billion at end December 2002.
The aim of IMMFA is to raise industry standards via a Code of Practice; the generation of information and performance data for investors; lobbying governments and regulatory bodies for appropriate treatment of institutional money market funds; and by supporting the formal recognition of institutional money market funds in the UK, Europe and elsewhere.
The Investment Management Association (IMA) provides a secretariat service for IMMFA.