To seek as high an overall rate of return as is consistent with maintaining liquidity and security of
- Target high quality short-term money market instruments.
- Provide the highest possible yield while minimising risk.
- Offers the highest liquidity.
- Superior capacity to maintain principal value and limit exposure to loss.
- Management fee of only 35 basis points*
- No front-end or back-end loads
Our locally managed Money Market Fund is rated AAAm by Standard & Poor's (S&P); it is the highest
rating offered by S&P. The definition of an AAAm money market fund states: "Safety is excellent.
Superior capacity to maintain principal value and limit exposure to loss".
Risk/Return Profile: Low risk/Low return
Minimum Investment Required: USD 10,000 (or equivalent in CAD or GBP)
Features and Benefits
- Four different currencies offered: USD, CAD and GBP, all of which provide very competitive
- Daily liquidity, easy access: the fund redeems on every Bermuda business day and settles the same
day for US and Canadian dollars; GBP settles the next day. If we receive instructions for
wire, draft or redemption from a US or Canadian class before 10:30 a.m. Atlantic Time, via fax or in
person, your money is available that afternoon. Fax redemptions are accepted subject to an indemnity form being completed.
- Cost-effective management: there are no load or transaction fees; management fee of 0.35% (35
- Short weighted average maturity: Approximately 30 days
Potential Risk Return: Low risk/ Low return
Income Distribution: Not applicable
Management Fee: 0.35%*
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.