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 |
|
Monday, October 24, 2011 Fidelity Adds to its Money Market Staff Despite the challenges facing money market fund providers, at least one mutual fund firm is making additions to its money market team. Robert Brown, who heads Fidelity Investments' [see profile] money market business, told The Boston Globe's Todd Wallack that he is adding to his staff. "We’re managing the business for decades, not for 12 or 24 months," Brown was quoted in the article as saying. Brown did not say how many staffers he is adding. The Globe article, published over the weekend, took a look at the challenges money market players are facing, the biggest of which are record low interest rates. The article also noted that investors took out $1.2 trillion from money market funds over the past three years. Assets in money funds now total $2.6 trillion. Printed from: MFWire.com/story.asp?s=38133 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |