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Taiwan: Fitch Rates Union Money Market Fund 'AA(twn)'/'V1(twn)'.

Thai Press Reports

| March 11, 2011 | COPYRIGHT 2008 Thai News Services. (Hide copyright information)Copyright

Section: Rating - Fitch Ratings, Taipei/Paris/Singapore-10 March 2011: Fitch Ratings has assigned Union Money Market Fund (Union MMF) National Fund Credit and Volatility Ratings of 'AA(twn)'/'V1(twn)'. Union MMF is a Taiwan domiciled money-market fund managed by Union Securities Investment Trust Co., Ltd (USIT) - an investment advisor, majority-owned by Union Bank of Taiwan and its associates.

Union MMF converted into a money-market fund (from a quasi-money-market fund) in January 2011 in an industry-wide transition due to regulatory requirements. Although Union MMF has tightened its investment threshold for individual assets to 'BBB(twn)', it still does not meet Fitch's …

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