OREANDA-NEWS. October 01, 2009. Morningstar, Inc, international investment research firm, has granted a five star rating to Money Market Fund managed by DnB NORD Investiciju Valdymas asset management company, reported the press-centre of DnB NORD.

Morningstar is a provider of independent investment research over 260.000 financial offers which evaluates funds based on their performance, investment portfolio and costs. A five-star rating is assigned to the best funds in their category.

„The money market fund attracts most investments from corporate or private customers who have temporarily free funds which they might need in the nearest future. They choose a money fund since the likely return is higher than that on short-term deposits or current account and the fund units may be cashed on the very same working day,“ says Naglis Paicius, Manager of DnB NORD Money Fund.

The assets managed by DnB NORD Money Market Fund were running at LTL 25 million as at the end of September. The yield per fund‘s unit value accounted for 5.7 percent over the past 12 months.

Aiming to ensure a consistent and stable growth of the fund value DnB NORD Money Market Fund targets investments at short-term governmental, bank and corporate bonds and deposits. It is a minor risk investment fund with a concept of avoiding currency risk; therefore most investments are in euro and litas.

DnB NORD Investiciju Valdymas, ranked third in the country’s asset management market, is currently managing three 2nd pillar pension funds, two 3rd pillar pension funds, and three investment funds.

UAB DnB NORD Investiciju Valdymas is part of DnB NORD financial group setup by the Norway‘s largest financial institution DnB NOR and North Germany‘s largest bank NORD/LB.