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Monday, April 08, 2013

Money Market Fundsters Play the Waiting Game

News summary by MFWire's editors

Money market funds continue to draw ink and pixels, this week with a lengthy story in the New York Times business section.

The gist of the story is that the industry is currently directionless, waiting to see just what regulators have in store.

“There is a huge overhang of uncertainty for the industry right now,” said James J. Angel, a finance professor at Georgetown who has researched the money-fund issue, to reporter Diana B. Henriques. “Eventually, the S.E.C. is going to do something. The question is, what will that be?”

The wait-and-see approach is especially true as the industry waits for Mary Jo White to take over at the SEC, the story notes.

The story also includes a lengthy history of the troubles facing money market funds, from the Reserve Fund to the idea of the floating NAV.

For more details, check out the original story here

Edited by: Ben Geier

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