Results for "money market funds"

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Money fund assets fell to $3.482T in latest week

September 17, 2009

Total money market mutual fund assets fell by $62.6 billion to $3.482 trillion for the week, the Investment Company Institute said Thursday. Assets of the nation's retail money market mutual funds fell by $10.36 billion in the latest week to...

Fund watchdogs blast SEC on money market proposal

September 13, 2009

The Securities and Exchange Commission hasn't provided enough proof to support its own proposal to ban second-tier securities from money market funds, the Consumer Federation of America and Fund Democracy Inc. said last week in a comment letter....

Money market fund guarantee program to end

September 10, 2009

The Obama administration said today that a program used to guarantee as much as $3 trillion in money market mutual fund assets will end on schedule next week. The program, which will be closed down on Sept. 18, had no direct cost to taxpayers...

Money funds and floating NAVs: What it means for advisers

September 9, 2009

Autumn’s first chill is yet to be felt, but a stiff breeze is blowing in the direction of the $3.5 trillion money market fund business. Or maybe it will be a hurricane. What’s about to hit is the erosion or elimination of the funds’ hitherto...

Observers shrug off SEC's proposed money fund rules, saying they won't ‘cripple' the industry

September 9, 2009

The Securities and Exchange Commission's proposed rule changes for money market mutual funds are not likely to have a negative impact on the $3.55 trillion industry, experts say. Still, if the SEC responds to calls to alter its proposed changes,...

Fund watchdogs blast SEC on money market proposal

September 8, 2009

The SEC has not provided enough proof to support its own proposal to ban second-tier securities from money market funds, Fund Democracy Inc. and the Consumer Federation of America said today in a comment letter. “Certain of the SEC’s proposals...

Floating NAV for money market funds is not seaworthy, critics say

September 4, 2009

Industry watchers are skeptical of plans by DWS Investments to launch a money market fund that does not seek to maintain a stable share price of $1. The DWS Variable NAV Money Fund, to be advised by Deutsche Investment Management Americas Inc.,...

Money market funds may suffer when federal backstops expire, J. P. Morgan exec fears

August 25, 2009

Money market mutual funds would benefit from a federal program to guard against the risk of illiquidity in the markets, analysts yesterday at the first Money Fund Symposium in Providence, R.I. Liquidity in money market funds drew regulatory...

Volcker’s regulatory suggestions rile money market execs

August 25, 2009

The idea of regulating the money market mutual funds as if they were banks could be detrimental to the $3.6 trillion industry, observers said today after former Federal Reserve chairman Paul Volcker called for tighter reins on the funds. In...

Money fund assets 'bleed out' as low interest rates persist, managers say

August 24, 2009

The continued zero interest rate environment may be presenting a bigger challenge to money market mutual fund managers than rule changes proposed by the Securities and Exchange Commission, several managers told participants today at the Money...

Money fund woes fuel manager flight

August 16, 2009

More asset managers are getting out of the money market fund business because the regulatory and market environment often makes offering such funds unprofitable. Aston Asset Management LLC of Chicago, formerly ABN AMRO Asset Management Holdings...

Money fund assets fell 6% in 2Q

August 4, 2009

Assets of money market mutual funds declined by $215 billion, or 6%, in the second quarter, according to Crane Data LLC, a Westborough, Mass.-based research firm. Money market fund assets stood at $3.6 trillion on July 29, Crane reported, down...

SEC to change regulations to prevent runs on money market funds

June 24, 2009

The Securities and Exchange Commission today voted unanimously to propose rule changes for the $3.8 trillion money market mutual fund industry — including new liquidity requirements to prevent runs on such funds. Many of the proposals were...

Expenses on the Reserve Primary Fund reached $16.6M

June 15, 2009

The Reserve Primary Fund, which had $4.5 million in assets as of June 10, had total expenses of $16.6 million from Sept. 15 through June 10, which included $15 million in management fees, according to a statement issued by The Reserve Management...

Vanguard to meld two money market mutual funds

June 3, 2009

The Vanguard Group Inc. has announced plans to merge two of its money market mutual funds and close a third fund to new investors. The Malvern, Pa.-based fund firm will merge the $6.7 billion Vanguard Treasury Money Market Fund (VMPXX) into...

Reserve completes liquidation of its Treasury Fund

June 1, 2009

The Reserve Management Co. of New York has announced that the liquidation of the Reserve U.S. Treasury Fund (RUTXX) and distribution concluded May 29. Some $54 million in assets were distributed, according to a spokesman. All redemptions in...

Money fund firms withdrawing from Treasury program

May 22, 2009

Signaling greater stability in the credit markets, most of the major fund complexes offering Treasury money market mutial funds have discontinued their participation in the federal guarantee program on those funds. According to Peter Crane,...

New regs for money funds may hamper yields, report says

May 19, 2009

Expect lower yields from money market mutual funds in the coming months as a result of reforms being contemplated by the SEC and Investment Company Institute, according to a white paper released this month and announced today by Capital Advisors...

Inside the panic at Reserve Management

May 17, 2009

The evening of Sept. 15 was the worst of Bruce Bent II's career. Panicked investors, who woke up that Monday morning to news of New York-based Lehman Brothers Holdings Corp.'s filing for bankruptcy protection, had yanked billions of dollars...

Money market mutual funds hit record low in April

May 11, 2009

The average yield for money market mutual funds hit a record low in April, according to Crane Data LLC. The Crane 100 Money Fund Index, which is an average of the 100 largest taxable money funds’ latest seven-day yields, found that the average...

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