JPMorgan Fleming Institutional Liquidity Fund Business Breaks $30 Billion Mark

Investment manager JPMorgan Fleming’s institutional liquidity funds have become the first international money market fund range to exceed $30 billion assets under management. JPMorgan Fleming is the largest provider of AAA-rated international liquidity funds, with a market share of 20 per cent and $30.6 billion assets under management. Its closest competitor, Goldman Sachs, holds $26 billion assets under management. Peter Knight, Head of Institutional Liquidity, attributed the growth in demand for liquidity funds to a greater focus on security among cash investors and a growing reluctance on the part of banks to offer market rates of return on deposits. ‘After the recent slew of corporate scandals and credit downgrades, investors are increasingly reluctant to take on the single counterparty risk that conventional deposits entail.’

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