MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 19, 2009 Changes in Money Funds Could Bring Lower Yields The ICI's recommendations for changes in money market funds could result in lower yields, The Wall Street Journal's Daisy Maxey reports. The ICI on Wednesday endorsed recommendations put forward by a money market working group led by Vanguard chairman Jack Brennan (see The MFWire, 03/18/09), and several money market funds are expected to adopt those changes by September. Recommendations aimed at bringing greater liquidity and slightly tighter maturity for the funds will have an impact on yield, according to ICI president and CEO Paul Schott Stevens. The effect, however, is not expected to be substantial, he said. "We're not making these recommendations for this yield environment," the Journal quotes Stevens as saying during a conference call with reporters on Wednesday. "We're making them for the future when we assume we'll get back to a more normal yield environment." Printed from: MFWire.com/story.asp?s=21054 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |