Collateralised deposit (see note UK sovereign In-house and Fund below) rating Managers Certificates of deposit issued by banks UK sovereign and building societies covered by UK In-house rating Government (explicit) guarantee Certificates of deposit issued by banks and building societies covered by UK sovereign rating Fund Managers Government (explicit) guarantee In-house buy and hold Government Gilts sovereign rating and Fund Managers Bonds issued by multilateral In-house buy and hold AAA development banks and Fund Managers Bond issuance issued by a financial institution which is explicitly sovereign rating In-house buy and hold guaranteed by the UK Government and Fund Managers (refers solely to GEFCO - Guaranteed Export Finance Corporation) Sovereign bond issues (other than the In-house buy and hold AAA govt) and Fund Managers In house and Fund Treasury Bills sovereign rating Managers Note: as collateralised deposits are backed by collateral of AAA rated local authority LOBOs, this investment instrument is regarded as being a AAA rated investment as it is equivalent to lending to a local authority. Collective Investment Schemes structured as Open Ended Investment Companies (OEICs): - 1. Government Liquidity Funds AAA In-house and Fund Managers 2. Money Market Funds AAA In-house and Fund Managers 3. Enhanced cash funds AAA Fund Managers typically 4. Bond Funds (see note 3) not Fund Managers rated
Collateralised deposit (see note below) UK sovereign rating In-house and Fund Managers Certificates of deposit issued by banks and building societies covered by UK Government (explicit) guarantee UK sovereign rating In-house Certificates of deposit issued by banks and building societies covered by UK Government (explicit) guarantee sovereign rating Fund Managers Government Gilts sovereign rating In-house buy and hold and Fund Managers Bonds issued by multilateral development banks AAA In-house buy and hold and Fund Managers Bond issuance issued by a financial institution which is explicitly guaranteed by the UK Government (refers solely to GEFCO - Guaranteed Export Finance Corporation) sovereign rating In-house buy and hold and Fund Managers Sovereign bond issues (other than the govt) AAA In-house buy and hold and Fund Managers Treasury Bills sovereign rating In house and Fund Managers Note: as collateralised deposits are backed by collateral of AAA rated local authority LOBOs, this investment instrument is regarded as being a AAA rated investment as it is equivalent to lending to a local authority. Collective Investment Schemes structured as Open Ended Investment Companies (OEICs): - 1. Government Liquidity Funds AAA In-house and Fund Managers 2. Money Market Funds AAA In-house and Fund Managers 3. Enhanced cash funds AAA Fund Managers 4. Bond Funds (see note 3) typically not rated Fund Managers
Final%20Version%20Appendix%201%20-%20Treasury%20Management%20Strategy%202018-19%20NM.docx