Butterfield Money Market Fund Limited, Sterling Class subscriptions suspended
Effective Friday, 18 September 2020 the Butterfield Money Market Fund Limited, Sterling Class will cease accepting subscriptions. Without positive yields to invest, the Fund will be unable to maintain its principal stability mandate as subsequent subscriptions will dilute the yield of current investors; therefore, all further subscriptions are suspended pending a further review.
There are no restrictions to redemptions; however, existing clients should note that any funds redeemed cannot be re-subscribed at this time.
The Fund was established as a Principal Stability Fund and is rated AAAm by Standard & Poor’s Fund Rating service under their Principal Stability Fund rules and guidelines.