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 |
|
Tuesday, August 21, 2012 Donahue Stands Up For Money Funds Federated's [profile] Christopher Donahue has been one of the most passionate defenders of the money market mutual funds against additional restrictions proposed by the regulators. Bloomberg reports that the CEO who calls funds as the "eighth wonder of the world" said in an interview that one of the proposals is "totally brain dead." "How can I defend them with anything but passion. I've got passion for the beauty of money funds," he said. In a conference call to investors in January, Donahue said the proposals by the SEC would destroy the industry. He compared floating prices and capital buffers which are being proposed by the SEC is like choosing to die either through hanging or by a bullet. The CEO of the family-controlled firm also sees the recent proposals to impose stricter rules to money market funds as a long-running war fought with the Fed and SEC. As the SEC decision nears, Donahue thinks "we are in a POW camp behind enemy lines, trying to survive. I assume the battle continues. We will defend money funds come what may." Printed from: MFWire.com/story.asp?s=40993 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |