Northwest Mutual Funds today announced that, subject to approval by regulatory authorities, it will assume the asset-backed commercial paper (ABCP) assets issued by third parties currently held in its Northwest Money Market Fund.

Northwest says the fund’s performance has not been affected by the situation in the ABCP market.

In a brief statement the firm said, “By redeeming its units in this asset class, Northwest Mutual Funds is reconfirming its commitment to providing its investors with rigorous risk control management and sheltering them from the uncertainty currently prevailing in the ABCP market.”