Should money market managers give up on forever maintaining $1 NAVs? Reuters' Jonathan Stempel reports that RiverSource chief market strategist David Joy is asking that very question to industry insiders.

At the Reuters Investment Outlook Summit, Joy warned that "the industry is at least going to open that question to discussion, about whether the $1 is sacred and something that should be maintained at all costs."

RiverSource's own money market offering, Cash Management Fund, held about $4.75 billion at the end of the third quarter. 

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