IMMFA Code of Practice

IMMFA Members are bound by a Code of Practice, the objective of which is to protect investors by imposing high and consistent standards on IMMFA funds.

The Code of Practice is adhered to voluntarily by IMMFA members. The standards in the Code are significantly tighter than those required by the current pan-European regulation - the ESMA Guidelines.

The Code is reviewed regularly, in order to ensure that it incorporates current best practice. As a result, IMMFA is recognised as a quality label for the money market fund industry.

Download Code of Practice pdf SUPPLEMENT TO THE CODE OF PRACTICE pdf

Objective of the Code

The objective of the Code is to protect investors in IMMFA funds by establishing:

  1. minimum standards for risk management (including in relation to credit risk, interest rate risk, liquidity risk and market risk);
  2. general management obligations;
  3. disclosure obligations; and
  4. obligations for compliance with the Code.