Global Liquidity Investment Survey *

Global Cash Management Survey 2011

Now in its 13th edition, the 2011 survey is the most comprehensive yet, with a record 487 treasurers from around the world providing their views by online questionnaire between July and September.

The survey has provided an unbroken global benchmark for corporate treasurers since its launch in 1999.

As you’ll see from the results, the strong response rate has helped to identify some particularly interesting trends as global treasurers seek to navigate the current low interest rate environment with high levels of surplus cash and a watchful eye on risk.

Global Cash Management Survey 2010

The 2010 survey is the most comprehensive yet, with a record 427 treasurers from around the world providing their views by online questionnaire between July and September.

As you’ll see from the results, the strong response rate has helped uncover some particularly interesting cash management trends as the world continues to recover from the financial crisis and corporate balance sheets continue to strengthen.

Respondents covered a wide range of regions and markets. As would be expected given the pre-eminence of the US economy and US companies, North American respondents made up the biggest group, but the survey also attracted significant responses from treasurers in Europe and Asia as well as some participation from the Middle East and Africa.

Global Cash Management Survey 2009

This latest survey was conducted by online questionnaire between July and September 2009 and attracted an impressive response rate, with a record 334 treasurers from across Europe, the US and Asia providing feedback. The survey has once again also captured views from treasurers representing organisations of all sizes, from small-caps to leading multinationals. Indeed, the wide geographical spread and broad industry coverage achieved in this year’s survey makes it one of the most comprehensive to date. At the same time, with all of the responses received in the run up to the first anniversary of the collapse of Lehman Brothers, the report shows in detail how the global banking crisis and subsequent economic downturn has impacted the cash management strategies and policies of corporate treasurers worldwide.

Global Cash Management Survey 2008

This year’s survey was open from 1 July to 7 October 2008. Once again we received a high number of responses, with 314 treasurers from around the world providing their feedback. While the survey began its history with a heavy UK bias, it has now become a truly global mouthpiece for the opinions of corporate treasurers. This year an impressive spread of respondents covered a wide range of regions and markets, from China to South America. This focus on international responses helps to make the J.P. Morgan Global Cash Management Survey a truly global barometer of cash management trends.

However, most respondents completed the survey before the dramatic events in the banking sector in mid-September. Nonetheless, we found that responses reflected marked changes in the attitudes and expectations of treasurers, as turmoil in global credit markets and the developing banking crisis contributed to rising risk aversion. If the survey was conducted again now, we could perhaps expect these changes to be even more pronounced.

Global Cash Management Survey 2007

Now in its ninth year, the JPMorgan Asset Management Global Cash Management Survey continues to provide a benchmark for treasurers and other cash investors to evaluate their liquidity management processes and understand their market position in relation to their peers. We hope that the trends identified by our research will again provide valuable insights into the global cash management industry.

The responses this year are particularly interesting because the Survey took place over the summer, at the start of the credit market difficulties. Where possible we have tried to separate the online responses (which can be accurately dated) into those received before September, and those that were returned during or after September, to see if we can see any noticeable changes in responses.

In addition, we conducted interviews with a number of survey respondents in November, to clarify certain points and gauge any changes of opinion that may be driven by the ongoing crisis in credit markets. We have incorporated any changes in sentiment, where appropriate.

Global Cash Management Survey 2006

With such a wide and varied range of respondents, the survey, which has again been compiled with the valuable help of The Association of Corporate Treasurers (ACT), continues to provide valuable insights into how the cash management industry is developing, the products that treasurers are currently using and the performance and service levels that are now demanded.

This year, we are also very pleased to have received the endorsement of the European Associations of Corporate Treasurers for the first time, with the initial rate of response proving very encouraging.

Global Cash Management Survey 2005

Despite the increased number of surveys now being conducted in the sector, this year’s Survey has been successful in attracting a record number of respondents from across the world. In total, 310 qualifying responses were received; just over two-thirds of these were received electronically, with the remainder completing an identical, hard-copy version of the questionnaire.

Global Cash Management Survey 2004

We again received an outstanding response, with over 300 organisations from around the world providing an excellent level of feedback. As a result of the continued high level of responses received the survey, which is now in its sixth year, continues to provide an excellent insight into the current dynamics driving the cash management industry. We would like to thank all those who took part for their contribution to the survey’s continued success.

Global Cash Management Survey 2003

This year we received a significant number of responses, with nearly 350 companies from around the world providing feedback, which is up sharply from the 240 responses received in 2002. We also received a greater geographical mix of responses this year, allowing us to draw broader and more interesting conclusions from the Survey’s results, especially as once again, the quality of the responses was very high. We would therefore like to extend our thanks to all those who took part in the Survey.

Global Cash Management Survey 2002

Once again the survey proved to be very successful in providing an insight into the current cash management practice of Treasurers as well as identify trends in liquidity management which will provide a useful benchmark for providers to understand their market position.

We received an overwhelming response to the survey with 240 responses and would like to thank all participants in the survey. The quality of the responses was also very high, leading to a number of interesting results.

An enhancement to this year’s survey was the creation of an editorial board. The purpose of the board was to ensure that the questions asked remained up-to-date and that the interpretation of the results gave a fair and balanced view.

Global Cash Management Survey 2001

The survey provides a benchmark for members and others to evaluate their liquidity management processes and understand their market position in relation to their peers. Similar surveys were conducted in Europe in 1999 and in the UK in 2000. Key trends and comparisons with those surveys are highlighted in this report.