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Thursday, September 17, 2009

The Expiration of the Money Fund Guarantee Looms

News summary by MFWire's editors

Will next week be a tough one for money market funds? The Wall Street Journal's Eleanor Laise ponders what the impending end of the federal money market guarantee program (scheduled to switch off on Friday) combined with low yields will mean for money fund shareholders.

Federated Investors CEO J. Christopher Donahue told the WSJ that he's not worried, though he expects fee waivers to cost Federated $22 million in operating income in the third and fourth quarters; Charles Schwab anticipates waivers of $80 million in the third quarter alone.

"I don't think people are hanging around to the end to play musical chairs," Donahue told the WSJ.

iMoneyNet and Peter Crane also gained some ink in the article. 

Edited by: Neil Anderson, Managing Editor


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