Horizon Cash Management, a cash manager for alternative investment funds, has announced that the firm has captured more than USD600m in new assets within the last quarter.

Horizon Cash Management, a cash manager for alternative investment funds, has announced that the firm has captured more than USD600m in new assets within the last quarter.

Horizon says this inflow came from a wide variety of funds that had previously placed their unencumbered cash reserves with prime brokers, clearing firms, banks and money market funds.

These managers were seeking more secure custody arrangements, greater transparency and input on investment strategies and security holdings, plus diversification away from single source financial firms.

Examples of such clients include a commodity firm seeking more secure custody arrangements than provided by their existing bank and a fund of funds operation looking to reduce its counterparty exposure, sliding its excess cash from its clearing firm

Pauline Modjeski, Horizon Cash Management's president, says: 'Even during these tumultuous times, Horizon has met our clients' liquidity needs, while providing them with daily transparency into their security holdings. The new inflows are proof of our commitment to the preservation of client capital, which has always been the cornerstone of our firm.

'With continued market volatility, and hedge funds of all types holding larger portions of their portfolios in cash, we expect these inflows to continue.'

Established in 1991, Chicago-based Horizon Cash Management is an independent provider of customized cash management solutions and liquidity management services to managed fund advisors, hedge funds, wealthy individuals, corporate treasurers and other institutional investors worldwide.