Capital Advisors Group and StoneCastle Partner to Deliver Capital Advisors Group Insured Liquidity Accounts
"Institutional cash managers who face regulatory and market uncertainty from banking and money market fund reforms are seeking alternatives to prime money funds and traditional bank deposits," said Ben Campbell, CEO and founder of Capital Advisors Group. "Capital Advisors Group's partnership with StoneCastle will enable us to provide Capital Advisors Group Insured Liquidity AccountsSM, which are designed to help clients meet their objectives of safety of principal, liquidity and competitive yield."
A Family of Separate Account Services
Campbell said the new Capital Advisors Group Insured Liquidity AccountsSM will extend Capital Advisors Group's range of services, which also include Capital Advisors Group Liquidity AccountsSM, Intermediate Accounts and one - to three-year accounts, providing cash managers with a range of custom separately managed account investment solutions.
"We are delighted that Capital Advisors Group is integrating StoneCastle's FICA® program into its family of separately managed account services," said Steve Rotella, CEO of StoneCastle Cash Management. "With post-crisis reforms changing the risk and liquidity profiles of major banks and money market funds, Capital Advisors Group clients may be able to meet their liquidity needs and realize competitive returns with a potentially safe and secure alternative to bank deposits and money market funds."
StoneCastle's FICA® is an account that deposits client cash throughout StoneCastle's network of hundreds of screened financial institutions. The FICA® program satisfies the FDIC's requirements for agency pass-through deposit insurance coverage. Although FICA® is not a member of the FDIC, the banks where client money is deposited are FDIC members, providing deposit insurance backed by the full faith and credit of the U. S. Government.
Комментарии