Fund Objective

The Premier UK Money Market Fund aims to generate income through the active management of a diversified portfolio of UK deposits and short dated money market and other investments.

View on Past Performance

Money market rates stabilised in July as volatility in assets and a paring down of risk appetites caused the markets to reassess the profile of UK base rates. During the month, economic data was mixed, with evidence being balanced between benign consumer and inflation data and manufacturing data which showed solid growth. Base rates were held at 5.75%.The benchmark 12 month money market rate fell marginally from 6.28% to 6.22% during July.The fund has posted a return of 0.4% in July, equal to the 3 Month London Interbank Offered Rate (LIBOR), and was placed 43rd percentile within its peer group over the month and 47th percentile so far this year to the end of the review period. The fund extended its maturity profile at the start of the month by purchasing 12 and 6 month deposits, in order to take advantage of high money market interest rates.

Future Expectations

The fund has rebuilt its maturity profile and will look for further money market rises to push it further upwards.

Fund Details