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, May 15, 2013 Asset Managers Warn the Fed On Bond Funds Fundsters and other asset managers are worried about rising interest rates, and they're telling the Fed. The just-released minutes of last month's Investor Advisory Committee on Financial Markets, which includes Mary Callahan-Erdoes of J.P. Morgan Asset Management [profile] and Rick Rieder of BlackRock [profile], reveal that the asset managers on the committee told New York Federal Reserve President William Dudley that, if interest rates start to rise, retail bond fund investors will take a beating. "Uncertainty was expressed as to the potential market functioning impacts of large outflows from corporate credit-related mutual funds and ETFs, especially as retail holdings of corporate bonds have increased relative to market volumes and broker-dealer balances have decreased," the minutes read. Jennifer Ablan and Jonathan Spicer of Reuters covered the meeting minutes. Printed from: MFWire.com/story.asp?s=43881 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |