Proposed Ashburton Money Market Fund mandate change
Proposed Ashburton Money Market Fund mandate change
22 April 2021
This communication serves to inform you of the proposed changes being implemented within the mandate of the Ashburton Money Market Fund (AMMF) in order to align to the needs of our investors.
The rationale for this mandate change is based on several prevailing factors and feedback from investors. It became necessary to begin reducing corporate credit exposure in the portfolio and place more emphasis on liquidity management.
We expect to have the ballot responses by 7 June 2021, and the effective date of the change will be 1 July 2021.
Click below for a detailed ballot letter: