Treasury Today Country Profiles in association with Citi
Treasury Today October 2002 magazine Buy print copy button

October 2002

Previous editions

Editorial

Three years on

Our first issue hit the streets in the Autumn of 1999 so Treasury Today is now three years old and like any youngster we still want to learn. So do please keep feeding back to us. Your comments and suggestions have helped us stay true to our goal of being the eyes and ears of the corporate treasury and finance function.

On our side, we will keep our promise to tell it like it is. No advertorial, no hidden messages, no spin, just good honest and clear reporting. That is what has made us, with your support, the leading treasury publication in Europe

Two years on

This month sees the publication of our new report on money funds, a subject we first reported on two years ago. It has been very interesting watching the development of these funds over the last couple of years. Hopes were high for a fantastic growth and to some extent these expectations have been met. The funds are almost three times bigger than they were two years ago. More importantly they are now accepted by many corporates as the natural home for short-term surplus cash.

But all is not well in the land of money funds. Interest rates are very low and after costs yields on money funds are not as attractive as they were. Corporates weaned in the days of high rates want better returns and may take more risk to achieve this rather than stay with the safety of funds.

Others will take the time to explain to their boards that risk and return are inseparable twins.

One year on

And finally let us acknowledge that we are just over one year on from the tragedy of September 11th, an event that felt so close to all of us in the financial markets.

It reminds us all there is more to life than treasury.