Institutional Cash Distributors

News & Events • FUND COMMENTARY

August 8, 2011

Federated Market Memo: S&P Downgrade Immaterial to Money Market Funds (08-08-2011)

Fidelity: Q&A Regarding S&P's Downgrade of U.S. Long-Term Credit Rating (08-08-2011)

HSBC Global Asset Management Liquidity Product Update (08-08-2011)

Morgan Stanley: Client Letter (08-08-2011)

S&P: Principal Stability Fund Ratings Unaffected By U.S. Sovereign Downgrade (08-08-2011)

Western Asset: The Impact on Money Market Funds from the U.S. Debt Downgrade (08-08-2011)

Wells Fargo: Update on Money Market Fund Portfolio Strategy (08-08-2011)

August 7, 2011

BofA Global Capital Mgmt: S&P Downgrade Not Expected to Have Significant Impact on Money Funds (08-07-2011)

July 27, 2011

Oppenheimer: Focus On…Portfolio Management (07-27-2011)

May 4, 2011

Month in Cash: FDIC Throws Curve to Already Challenging Cash Market
(Federated Investors)

Commentary by Deborah A. Cunningham, CIO Money Markets

May 2, 2011

Portfolio Manager Commentary – Overview, strategy, and outlook
(Wells Fargo Advantage Funds)

Money Market overview by Dave Sylvester

April 1, 2011

Month In Cash: So Much Going On, So Little Movement
(Federated Investors)

Commentary by Deborah A. Cunningham, CIO Money Markets

March 31, 2011

BofA Global Capital Management Investor Briefing – A Quarterly Conversation with Michael Pelzar, President (BofA Global Capital Management)

Columbia Management: Securities and Exchange Commission Raises the Bar for Money Fund Managers (2-2-2010)

Columbia Management: SEC Alters the Playing Field for Managers of Money Market Funds (02-10-2010)

Federated: Federated Welcomes SEC Money Market Changes (1-27-2010)

Federated: Federated Summary of Money Market Fund Reform Rules

Fidelity: Fidelity Investments' Statement Regarding Upcoming Changes to Federal Regulation Governing Money Market Mutual Funds (01-27-2010)

First American Funds: New Money Market Fund Regulations

Morgan Stanley: Money Market Fund Update (02-2-2010)

Morgan Stanley: SEC Amendments to Rule 2a-7 (03-15-2010)

Northern Trust: SEC Approves New Rules for Money Market Funds (2-4-2010)

RBC: The SEC's Reform Rule 2a7 Regulations- How do the Changes Affect the RBC Money Funds?

Western Asset: SEC Amends Rules for Money Market Funds (2-29-2010)

Wells Fargo: Overview, Strategy, and Outlook, as of January 31, 2010 (02-9-2010)

Wells Fargo: SEC Rule 2a-7 Amendments and how they relate to the Wells Fargo Advantage and Evergreen Investments Money Market Funds

ICD fully supports industry and government initiatives that further strengthen the products used by our clients. On January 27, 2010, the SEC voted to adopt several proposals to update Rule 2a-7, the federal regulation that governs SEC-registered money market funds.

Please find on this page Fund Family commentary on these proposals, which ICD will update as they are released. Feel free to contact ICD with questions regarding specific funds or the industry in general.

Institutional Cash Distributors (ICD Funds) is an online portal (aka trading portal or money market portal) assisting investors in their liquidity management for money market funds and treasury solutions. A corporate treasury department's most important responsibilities are the preservation of capital, liquidity and yield when making short-term investments - in that order of importance. In order to perform these critical functions treasurers must evaluate counter-party exposure, headline risk and country exposure by analyzing WAM, WAL, credit default swaps, CDS spreads, etc. And they must take into consideration the investment guidelines as determined by their board's investment policies. As well, ICD offers a variety of investment types from shorter term money market funds to separately managed accounts SMAs. ICD's mission is facilitating exposure analytics intelligence-based highly diversified investment strategies for its corporate treasury clients and finding ways to provide risk management.