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Rating:Money Market Funds Avoid Mass Exodus, Rise By $8.7B Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 27, 2013

Money Market Funds Avoid Mass Exodus, Rise By $8.7B

News summary by MFWire's editors

Though emerging market ETFs and bond funds are hurting, but money market fund assets rose by $8.17 billion in the past week, the WSJ's Nathalie Tadena reported. That number more than compensated for the decline from tax-free funds. The new SEC rules limiting money market funds by requiring a floating NAV for prime institutional funds was supposed to create an exodus from money market funds, but it hasn't happened yet.

The seven-day yield for taxable money market funds held at 0.01 percent for the sixth straight week, Tadena writes. Taxable fund assets rose by $8.49 billion to $2.3 trillion, as institutional investors added $6.53 billion and individual investors accounted for $1.96 billion.

To read more, click here.  

Edited by: Casey Quinlan

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