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, January 28, 2013 Fidelity Continues Its Attack on Money Fund Reform First the infantry attacked, now comes the cavalry. Fidelity has fired a second salvo against proposed national reforms of money market funds, according to the Boston Globe. The paper reports that the mutual fund giant argues that reforms undertaken in 2010, after the financial crisis, are enough to ensure the safety of money market funds. Moreover, the publication notes that Fidelity, while commenting on a November study by the SEC, said the report data "supports excluding Treasury, government and tax-exempt money market mutual funds from any further reform." Moreover, the Boston Behemoth suggests that within the category of "prime" money market funds — those used widely by institutions — differences between the way large investors and individuals cash out of funds should be examined further before imposing new rules. Fidelity made its first assault last year. For more on Fidelity's latest charge into battle, go to the Boston Globe. Printed from: MFWire.com/story.asp?s=42819 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |