The 2019 guide provides a comprehensive overview of the professional investment of corporate cash, describing the content and context of the development of an investment policy, the factors that impact investment decision making, and the different investment instruments available in various countries around the world.
It is intended to be used as a guide to the complexities of developing and implementing an investment policy, and also as a tool to validate the policies of those who already have an investment strategy in place.
The basic principle remains true when investing corporate cash: setting an appropriate balance and priority of security, liquidity and yield. This Guide focuses on how to establish an appropriate investment policy that sets this balance and on the effective implementation of that strategy.
The Guide reviews the principle stages in developing an effective cash investment policy:
1. Forecasting cash flows accurately.
2. Managing cash flows effectively.
3. Segmenting cash flows intelligently.
4. Establishing an appropriate investment policy.
5. Implementing effective investment management.
This edition has been updated to take account of the current global economic situation. In addition it considers how developments in technology, the rise of the FinTechs and the growing global trends towards open banking, APIs and instant payments will affect how cash and investments are managed.
This edition contains 49 country profiles with detailed information on the products available and tax and settlement considerations when making investment decisions.
HSBC Global Asset Management and the Association of Corporate Treasurers (ACT) are delighted to have collaborated in this new edition of the Guide and hope that it will be a useful and practical reference both for those new to investing short-term liquidity and for those who are already familiar with the subject through their work and ACT qualifications.
