Target: Liquidity and ‘safe haven’ in times of adverse development in the financial markets.
Liquidity is generally held in the client’s reference currency to avoid any currency risk.
Liquidity is not usually to be held on current accounts, but will be placed either in money market funds or time deposits.
As a general rule, liquidity is to be held to a minimum. Nevertheless, as a consequence of our active approach in managing the asset allocation, we have the ability to increase the liquidity temporarily to a high proportion (high changes in the asset allocation are a possibility).
