StoneCastle Cash Management reports record asset levels
StoneCastle Cash Management has reported an increase in total assets to record levels, with total assets up 37 per cent year to date.
In addition, StoneCastle’s proprietary cash management vehicle, the Federally Insured Cash Account (FICA), was again recognised by the Association for Financial Professionals (AFP) in its 2014 Liquidity Survey.
“We continue to see strong growth in assets as Treasurers seek out our innovative cash management solutions,” says Steve Rotella, CEO of StoneCastle. “As institutional money funds face regulatory reform, prudent financial professionals are seeking reliable, safe, and liquid alternatives, benefitting StoneCastle. FICA is a widely used structured bank deposit product used by Treasurers when investing short-term balances, as highlighted in the 2014 AFP Liquidity Survey.”
“Our FICA product is well positioned to benefit from the current market environment as financial professionals look for ways to achieve competitive cash returns while preparing for regulatory changes,” says Brandon Semilof, managing director at StoneCastle. “FICA offers the high level of FDIC insurance, weekly liquidity, competitive yields and stability that the industry seeks.”
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