Ostrum Asset Management presents its Ostrum Euro Liquidity LVNAV fund, a money market solution designed to secure investor cash flows
In an uncertain market environment, Ostrum Asset Management (Ostrum AM), an affiliate of Natixis Investment Managers, is expanding its range of money market products to offer investors the Ostrum Euro Liquidity LVNAV (Low Volatility Net Asset Value) fund, a fund whose net asset value follows a linear progression and is only adjusted in the event of a significant deviation in the valuation of the underlying assets. This short-term fund, which combines low volatility and high liquidity, is the first LVNAV fund regulated under French law.
Marketing communication produced for informational purposes for Professional Investors only. Please refer to the prospectus and Key Investor Information Document (KIID) before making any final investment decision.
Main risks of the fund: capital loss, credit, interest rate, liquidity, counterparty, related to securities repurchase and reverse repurchase agreements and the management of financial collateral, sustainability.
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Ostrum Euro Liquidity LVNAV: a new money market solution offering even greater stability and security
In an environment of constant fluctuations in risky markets and persistent geopolitical uncertainty, investors, whether professional or private, are actively seeking solutions that can preserve a high level of liquidity and limit the volatility of their net asset values. In this context, money market strategies, which are proving resilient in a market characterised by higher interest rates than before, are particularly attractive.
In order to fully meet its clients' needs, Ostrum AM now offers the Ostrum Euro Liquidity LVNAV fund, the first LVNAV fund under French law designed to combine a stable net asset value with optimised liquidity, while investing in a more restricted list of ‘high credit quality’ assets.
- The stability of the net asset value is ensured by the adoption of a low-volatility net asset value structure, known as Low Volatility Net Asset Value (LVNAV). It follows a linear progression unless the deviation from its market value exceeds 20 basis points, in accordance with European regulations. This mechanism thus helps reduce the impact of market volatility on the net asset value.
- The fund offers a higher level of liquidity compared to traditional money market funds with variable net asset value, dite Variable Net Asset Value (VNAV), with a minimum daily liquidity ratio of 10% and a minimum weekly liquidity ratio of 30%, vs. ratios of 7.5% and 15% for funds in other money market categories, respectively.
- Upon acquisition by the fund, monetary and bond instruments are of ‘high credit quality’ and have a minimum credit rating of F-11 (Fitch Ratings), A-11 (S&P) or P-11 (Moody's).
Originating from the transformation of the Ostrum Cash A1P1 fund established in 2004, Ostrum Euro Liquidity LVNAV has assets under management of €1.6 billion2, immediately positioning it as a benchmark solution in the short-term money market fund segment.
Alain Richier, Head of Money Market Management at Ostrum AM, states: "The launch of Ostrum Euro Liquidity LVNAV reflects our commitment to offering our clients increasingly robust money market management solutions. This fund aims to generate a return in line with the capitalised €STR, while offering greater liquidity and lower volatility than funds in other money market categories. Our goal is to maintain a high level of liquidity for our clients and offer them what we believe to be the safest possible investment alternative in a complex market environment."
Rigorous and active management in a ‘high quality’ credit universe
Ostrum Euro Liquidity LVNAV holds an AAAmmf rating by Fitch Ratings3, the highest mark for a money market fund, reflecting the robustness of its risk management and monitoring process.
The investment strategy of the Ostrum Euro Liquidity LVNAV fund is deployed within a rigorously defined universe, consisting of negotiable debt securities and/or short-term bonds issued exclusively by private or public entities in the OECD zone, all classified as high credit quality using Ostrum AM’s proprietary methodology. As an Article 8 fund under the European SFDR4 regulation, it also incorporates environmental, social and governance factors into its management decisions.
The fund is actively managed, with continuous adjustments to interest rate sensitivity (WAM)5 and credit sensitivity (WAL)6 to seize market opportunities and optimise the risk/return ratio. Allocations between fixed and variable rates are also managed dynamically, considering market developments and expectations regarding key interest rates. The objective is to achieve performance equal to the capitalised €STR after deduction of the fees applicable to each product share.
Ostrum AM: leading expertise backed by a highly experienced team
With its solid expertise in fixed income and money market management, Ostrum AM has established itself as a key player in Europe in these asset classes. Ranked among the top five players in money market management in Europe7, the company has broad market access and the capacity to absorb large inflows and outflows.
The money market management team, led by Alain Richier, has an average of 22 years of experience and manages a range of products with total assets under management of more than €54 billion8. Like all Ostrum AM fund managers specialising in credit and money markets, Thibault Michelangeli and Didier Lacombe, managers of the Ostrum Euro Liquidity LVNAV fund, rely on the insights of 22 Credit & Sustainability analysts covering more than 1,200 issuers worldwide.
This expertise enables Ostrum AM to offer solutions built according to rigorous processes, tailored to investors' expectations. The Ostrum Euro Liquidity LVNAV fund follows this approach: offering a reliable and agile response to its clients' current cash management needs.
The Ostrum Euro Liquidity LVNAV fund has been available for subscription since June 20th, 2025.
The launch of this new solution was carried out with the support of the teams at Natixis Investment Managers International and Natixis IM's operational and technological platform, Natixis IM Operating Services Europe.
1 Credit rating corresponding to ‘above average quality’ for short-term debt instruments.
2 Source: Ostrum Asset Management figures as at 09/29/2025.
3 The Ostrum Euro Liquidity LVNAV fund is rated by Fitch Ratings. This rating was requested and financed by the asset management company. Details on the rating methodology are available at www.fitchratings.com.
4 Funds classified under Article 8 SFDR promote environmental, social and governance (ESG) criteria but do not have sustainable investment as their objective. They may invest partially in assets with a sustainable objective, for example as defined by the EU classification.
5 WAM (Weighted Average Maturity)
6 WAL (Weighted Average Life)
7 Source: Morningstar, 12/31/2024.
8 Source: Ostrum Asset Management figures as at 09/29/2025.
Ostrum Euro Liquidity LVNAV is a French mutual fund established in France and approved by the French Financial Markets Authority. Natixis Investment Managers International is the management company and has delegated financial management to Ostrum AM.
A money market fund is not a guaranteed investment; investing in a money market fund differs from investing in deposits; the capital invested in a money market fund may fluctuate; a money market fund does not rely on external support to guarantee its liquidity or stabilise its net asset value per unit or share; the risk of capital loss must be borne by the investor. In the event of very low money market interest rates, the return generated by the fund may not be sufficient to cover its management fees. The fund may experience a structural decline in its net asset value.
The analyses and opinions mentioned in this document represent the views of the author(s) referenced. They are issued on the date indicated, are subject to change and should not be interpreted as having any contractual value.
References to a ranking, prize, label and/or rating do not prejudge the future performance of the funds.
About Ostrum Asset Management
Ostrum Asset Management draws on its investment expertise to enhance the impact of its clients’ commitments as they act together to support European citizens’ life plans, health and retirement.
Ostrum Asset Management is among the European leaders1 in institutional asset management, providing support to its clients operating under liability constraints across the entire investment value chain with a range of insurance-based (equities, bonds, multi-assets), fixed income, equity and quantitative management offerings, combined with a dedicated set of service offerings.
Ostrum Asset Management is a well-established responsible investment advocate2 and manages €386 billion3/4 in assets for large institutional clients – insurers, pension funds, health insurers, corporations.
Ostrum Asset Management is an affiliate of Natixis Investment Managers.
1 IPE Top 500 Asset Managers (Investment & Pensions Europe) 2025 ranked Ostrum AM as the 9th largest European institutional asset manager, as at 12/31/2024. Any reference to a ranking, a rating or an award provides no guarantee for future performance.
2 Ostrum AM was one of the first French asset manager signatories to the PRI in 2008. More details: www.unpri.org
3 Source: Ostrum Asset Management, consolidated data at end-June 2025. The services provided for a given client may concern certain services only.
4 Change in the methodology used for the reporting of assets, effective January 1, 2025
About Natixis Investment Managers
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers1 with more than $1.497 trillion assets under management2 (€1.275 trillion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals. Headquartered in Paris and Boston, Natixis Investment Managers is part of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various US registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.
1 Survey respondents ranked by Investment & Pensions Europe/Top 500 Asset Managers 2025 ranked Natixis Investment Managers as the 20th largest asset manager in the world based on assets under management as of December 31, 2024.
2 Assets under management (AUM) of affiliated entities measured as of June 30,2025, are $1,497.7 billion (€1,275.8 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of nonregulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
