As an active fund manager, we have several different tools to manage our funds and one is to use cash and securities for liquidity. William Housey More Quotes by William Housey More Quotes From William Housey We've written language into our prospectus that allows us to go to 100 percent cash for defensive purposes, we have written the documents to give us as much flexibility as possible to weather a potential liquidity storm because we have to be thoughtful about the risks. William Housey company-news