The Public Sector Deposit Fund is an innovative money market fund managed by CCLA that offers the substantial benefits of cooperation between public sector bodies. It is a cash management solution designed by the sector, for the sector.
Local authorities and other public sector bodies are responsible for the cost effective delivery of services to residents and businesses. One important element of this is the management of daily cash flows which is a matter of balancing three requirements – low risk, adequate daily liquidity and optimised returns.
This apparently straightforward task does, however, carry significant challenges. This was clearly demonstrated in 2008 when the failure of Icelandic banks left many public sector depositors with large capital losses.
The fund offers the public sector a unique solution – it is a UK domiciled, FCA regulated money market fund, wholly aligned with the principles and values of the public sector. A pooling of public sector deposits in the fund will provide the advantages of scale and diversification, while spreading and sharing the costs of the expert management required in a fast moving world.
Contact us if you’re a local authority or public sector body interested in the responsible management of your cash balances.
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