NEW YORK– Ramirez Asset Management (“RAM”) has expanded its partnership with the Hispanic Scholarship Fund (“HSF”), one of the nation’s largest nonprofit organizations supporting Hispanic American higher education. RAM and HSF’s expanded partnership is tied to the December 2023 launch of the Ramirez Government Money Market Fund (RAMXX). RAM will proudly donate 10 percent of the new fund’s net management revenues to HSF to further support Latino/a students with the knowledge, resources, and support needed to access higher education.
RAMXX is unique in the money fund marketplace, as it is one of a few managed by a diverse investment firm. As of April 30, 2024, the Ramirez Government Money Market Fund had $271 million in total fund assets with several Fortune 500 companies as pioneer investors in the Fund and supporters of the next generation of diverse leaders.
“Since our founding, support for the Hispanic community has been in our organizational DNA. The launch of this money market fund is an extension of our belief in the work of the Hispanic Scholarship Fund and its impact on the Hispanic community,” said Sam Ramirez Jr., President and Chief Executive Officer of RAM. “As a firm, we are proud to expand our support of Hispanic youth through this initiative.”
The Ramirez Government Money Market Fund is a traditional government money market fund invested in securities issued by the U.S. government, its agencies and instrumentalities, including repurchase agreements that are collateralized solely by U.S. government securities. At this time, the Fund is available for direct investment and is accessible via the leading cash management portals: ICD (Treasury First), JP Morgan (Morgan Money®), US Bank (Cash Solutions) and Treasury Curve. RAM is diligently working to make the fund available on other cash portals in the near future.
As one of the nation’s leading nonprofit organizations supporting higher education, HSF supports more than 25,000 Scholars at over 1,200 colleges, universities, and graduate schools across the country. Since its founding in 1975, HSF has awarded over $790 million in scholarships and provides a broad range of programs and support services for students, parents, HSF Scholars, and HSF Alumni.
Fidel Vargas, Chief Executive Officer of HSF, said, “We are excited to partner with Ramirez on this initiative and applaud the organization for its ongoing support of HSF and commitment to the Hispanic community. I am proud to highlight that 90+ cents of every dollar spent by HSF goes directly to Scholarships, Support Services, Career Services and Programs, and the funding from this initiative will be no different. This partnership will directly contribute to our ability to provide support services and scholarships to thousands of parents, students, and HSF Scholars across the country.”
