OneAmerica Funds has selected BNY Mellon Asset Servicing and Investor Analytics, a provider of risk measurement and risk management solutions, to provide money market stress test service.
According to BNY Mellon, the service will help money market funds comply with the US Securities and Exchange Commission’s (SEC) rule which requires money market funds to examine combinations of potential stresses.
The suite of stress tests developed by Investor Analytics will be available through BNY Mellon’s advanced asset servicing technology platform.
The tests examine changes in fund NAV resulting from parallel and non-linear shifts in yield curves, changes in credit spreads, increasing redemption requests, downgrade/default simulations and combinations of these stresses.
OneAmerica Funds assistant treasurer Dan Schluge said that BNY Mellon has developed a comprehensive solution that matches the company’s needs, including efficient methods for managing and reporting the data it requires.