MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 12, 2008 Money Funds Are Still Squeezed The new Federal guaranty for money market funds is not a fully restorative tonic. The WSJ Fund Track reports that a number of money funds are still struggling with a dearth of suitable investments and a low yield environment that leaves them little room to realize their customary fees. Prime money funds, for example, have seen assets plummet to $1.62 trillion from $2 trillion in early September. There are also concerns that another fund may follow the path of The Reserve and break the buck. The struggles come even as the Fed is about to kick off a $540 billion program to buy short-term debt and bolster funds (it spent $350 billion on a similar program already). The article also notes that Touchstone was set to shutter its U.S. Government Money Market Fund in October. The fund's information is no longer on the Touchstone Web site. Printed from: MFWire.com/story.asp?s=19871 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |