08/06/03
NEW YORK, N.Y., August 6, 2003 - The Bank of New York announced today that Standard & Poor’s Investment Services assigned its "AAAf" credit quality and "S1+" volatility ratings to the BNY Hamilton Enhanced Income Fund as of June 25, 2003.
According to Standard & Poor’s, an "AAAf" rating indicates that the fund’s portfolio holdings and counterparties provide extremely strong protection against losses from credit defaults. Standard & Poor’s bond fund credit quality ratings provide a current assessment of a fund’s overall credit quality and its level of protection against losses from credit defaults.
Volatility ratings range from "S1" (lowest volatility) to "S6" (highest volatility). They are based on analysis of a fund’s investment strategy and portfolio level risk, which includes interest-rate risk, credit quality, liquidity, concentration, call and option risk and currency risk. The "S1+" volatility rating indicates that the fund possesses extremely low sensitivity to changing market conditions.
Although not a money market fund, the BNY Hamilton Enhanced Income Fund emphasizes preservation of capital and liquidity while seeking to generate returns in excess of traditional money market products. It is an ultra-short duration fund that can be used as a cash management vehicle for institutional or individual investors with conservative investment objectives.
BNY Hamilton Funds is a family of no-load mutual funds advised by The Bank of New York, one of the nation’s strongest and most experienced investment managers that has been helping its clients meet their investment goals for more than 150 years. The Bank’s investment strategy is based on a time-tested analytical framework that enables it to chart a steady course regardless of market conditions or economic changes. The portfolio managers are guided by The Bank of New York’s Investment Policy Committee, a team of senior managers who have an average of 26 years of investment management experience.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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