Finally, another release, “Corporate Assets in Money Market Funds Grew 38% Y/Y in 2019 on ICD Portal,” states, “ICD, corporate treasury’s trusted independent portal provider of money market funds and other short-term investments, closed 2019 with its strongest quarter ever, ending the year with 24% revenue growth. The Q4 average daily balance of corporate treasury investments on ICD Portal grew 38% year-over-year, outpacing the market’s 21% increase in institutional money market fund use tracked by the Investment Company Institute (ICI).” and Direct Commercial Paper.”
CEO Tory Hazard says, “Growth in assets as well as in the number of clients on ICD Portal demonstrates treasury’s need for greater access, visibility and control over cash and short-term investments…. Our growth confirms corporates’ preference for independent providers, unbiased fund selection, investment risk analysis and consolidated reporting. We will continue to deliver the leading-edge technology and excellent service the corporate investment community has come to rely on from ICD. It’s all we do.”
The release adds, “ICD clients include the world’s largest corporations from the Fortune 1000 and FTSE 350. ICD provides access to over 300 money market funds from more than 30 fund companies. Through one, secure platform, clients research, trade, settle and report on money market funds and other investments, such as: Time Deposits, Short Duration Bond Funds, Federally Insured Cash Accounts (FICA), Federally Insured Brokered CDs
Source: Crane Data
