Ramius manages cash and short term fixed income assets.

Ramius Cash Management manages cash and short term fixed income assets for corporate, municipal, not-for-profit and other institutional clients (including hedge funds). The assets are managed by a team of portfolio managers who have worked together for fourteen years and have managed up to $15 billion in this asset class.

The Program objectives are to preserve principal, maintain liquidity (daily) and maximize returns on investor accounts. Portfolios are customized and separately managed (not in a pooled account) according to each client's investment guidelines and are held at a custodian.

The team identifies duration as the single most important factor affecting returns on short-term fixed income accounts. Duration (or average maturity) is managed within the individual guidelines of each client as well as current market conditions. Declining interest rate environments tend to make for longer average portfolio maturities and rising interest rate environments tend to make for shorter average portfolio maturities. Since interest rates are highly volatile, constant monitoring of the fixed income markets and active management of accounts are necessary for maximum return.

Ramius maintains the highest credit standards in addition to high liquidity in the positions that it acquires for client accounts. Its policy shifts risk from credit (e.g. high yield securities and exotic illiquid instruments) to interest rate. In general, investments are restricted to the following types of securities: US Treasury and Agency investments, commercial paper, bank instruments and floating rate notes, all with minimum credit ratings of AI/PI.