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Rating:Money Fund Shop Reports Asset Rebound Not Rated 4.0 Email Routing List Email & Route  Print Print
Monday, February 13, 2006

Money Fund Shop Reports Asset Rebound

Reported by Erin Coe

The Reserve’s total assets under management increased 31 percent in 2005 and exceeded a $40-billion company record for the money fund specialist.

The New York-based firm and lead provider of money-market mutual funds has seen growth across its banking, brokerage and institutional channels, with its institutional sector being the greatest contributor.

Eric Lansky, senior vice president of Reserve Solutions, attributed its success to a growing contribution from all three business channels as well as heightened client awareness.

"Clients were asking more about yields and performance, and by having such conversations, people recognized Reserve as a provider of cash management products," Lansky said.

Lansky maintained The Reserve is no longer feeling pressure from the lower interest rate from several years ago.

"Just the opposite," he said. "By creating greater awareness of cash to clients, it enables them -– brokers and banks -– to capture new assets which helps their business and our business while best serving the needs of clients."

The Reserve plans to double its assets to $80 billion by 2007. How does it plan on reaching that goal?

"The same way we’ve grown in the past, by being responsive and listening to the marketplace," Lansky said. "There are $2 trillion in money funds and an additional $5.9 trillion in bank assets."

Serving more than four million account holders, The Reserve manages over $40 billion across many financial products, including mutual funds, banking products and FDIC-insured deposit accounts. These products as well as the demands of the banking community and institutional sectors for services and products have helped the firm diversify.

"This enabled us to penetrate new markets," Lansky said. "Banks now represent $2 billion in assets, and institutional assets are nearly $17 billion since 2002." 

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