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Monday, January 28, 2013

Daily NAVs Could be Overblown

News summary by MFWire's editors

More and more firms are publishing daily NAVs for money market funds big news, right?

Yes and no, according to an article by Christine Benz, Morningstar's director of personal finance.

While it may be interesting that the market is reforming by itself after the Mary Schapiro's attempts floundered, Benz says the difference for investors and potential investors probably won't be all that big.

For one, she writes, the NAV will only be published to 4 decimal places, meaning that small changes won't even show up in the daily published value.

She also notes that while there have been 300 cases of money funds "breaking the buck," only twice including the well publicized Reserve Primary Fund situation have shareholders not been made whole.

Benz also writes that there are simply things other than NAV that are more important for money funds, including yield and expense ratio.

For more details, check out the original article here

Edited by: Ben Geier


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