{"id":5231,"date":"2020-06-03T13:37:53","date_gmt":"2020-06-03T12:37:53","guid":{"rendered":"https:\/\/www.gpsj.co.uk\/?p=5231"},"modified":"2020-06-03T13:43:53","modified_gmt":"2020-06-03T12:43:53","slug":"cclas-public-sector-deposit-fund-reaches-1-billion","status":"publish","type":"post","link":"https:\/\/www.gpsj.co.uk\/?p=5231","title":{"rendered":"CCLA\u2019S PUBLIC SECTOR DEPOSIT FUND REACHES \u00a31 BILLION"},"content":{"rendered":"

Reporter: Stuart Littleford<\/span> – News<\/span><\/em><\/p>\n

Only sterling denominated\u00a0money market fund exclusively for the public sector<\/em><\/strong><\/p>\n

Client-owned fund manager CCLA<\/a> today announces that its Public Sector Deposit Fund (PSDF)<\/a>, a money market fund, reached \u00a31 billion of assets under management on 3 June 2020 for the first time since its launch in 2011.<\/p>\n

The fund\u2019s investor base is made up of 550 parishes, towns, districts, boroughs, counties, pension funds, police, fire authorities and housing associations amongst others.<\/p>\n

Peter Hugh Smith, CCLA\u2019s Chief Executive, told GPSJ:<\/p>\n

\u201cI\u2019d like to thank all of our clients who have helped us to reach this milestone. A larger fund enables us to increase our lot sizes, to achieve even greater diversification and command better rates in the sterling money markets. This in turn means all clients benefit from the fund\u2019s growth which is so important during these fiscally-challenged times.\u201d\u00a0\"\"<\/p>\n

The Covid-19 crisis is hitting many of the regular income streams councils rely on at a time when councils are having to spend more addressing issues\u00a0associated with the crisis.\u00a0To be able to meet potential redemption requests from investors, the fund is holding increased levels of liquidity.<\/p>\n

\u201cWe can see that some councils are holding up-front cash payments from government to deploy in meeting the challenges of Covid-19, while others are already carefully managing cash on a daily or weekly basis. It is evident that both existing and new clients are using CCLA\u2019s Public Sector Deposit Fund to optimise their cash management and help protect vital services they provide during this crisis,\u201d continued Mr HUGH SMITH.<\/p>\n

Following the freezing of deposits in the 2008 global financial crisis, CCLA worked with the Local Government Association to create a UK regulated fund suitable for the public sector, modelled on its successful\u00a0church and\u00a0charity\u00a0deposit\u00a0funds.\u00a0The fund\u00a0integrates\u00a0ESG\u00a0factors\u00a0into its processes through its screening for counterparties\u2019 corporate governance,\u00a0and approach to climate change and sustainability. Additionally, CCLA leads\u00a0an\u00a0active engagement programme\u00a0on wide ranging issues such as the\u00a0living\u00a0wage\u00a0and mental health.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reporter: Stuart Littleford – News<\/p>\n

Only sterling denominated money market fund exclusively for the public sector<\/p>\n

Client-owned fund manager CCLA today announces that its Public Sector Deposit Fund (PSDF), a money market fund, reached \u00a31 billion of assets under management on 3 June 2020 for the first time since its launch in 2011.<\/p>\n

The fund\u2019s <\/p>\n

Continue reading CCLA\u2019S PUBLIC SECTOR DEPOSIT FUND REACHES \u00a31 BILLION<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1834,11],"tags":[1881,1705,1109,25,417,26,264,959,310,1882,422],"class_list":["post-5231","post","type-post","status-publish","format-standard","hentry","category-covid-19","category-finance-investment","tag-ccla","tag-covid-19","tag-finance","tag-government-public-sector-journal","tag-government-journal","tag-gpsj","tag-gpsj-magazine","tag-investment","tag-public-sector","tag-public-sector-deposit-fund-psdf","tag-public-sector-magazine","odd"],"yoast_head":"\nCCLA\u2019S PUBLIC SECTOR DEPOSIT FUND REACHES \u00a31 BILLION - Government & Public Sector Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gpsj.co.uk\/?p=5231\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CCLA\u2019S PUBLIC SECTOR DEPOSIT FUND REACHES \u00a31 BILLION - Government & Public Sector Journal\" \/>\n<meta property=\"og:description\" content=\"Reporter: Stuart Littleford – News Only sterling denominated money market fund exclusively for the public sector Client-owned fund manager CCLA today announces that its Public Sector Deposit Fund (PSDF), a money market fund, reached \u00a31 billion of assets under management on 3 June 2020 for the first time since its launch in 2011. 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