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Thursday, June 03, 2010

Donahue Expects Money Fund Fee Waivers to Drop

News summary by MFWire's editors

At least one giant money market fund manager expects to waive fewer fees this quarter. Reuters' Aaaron Pressman reports that Federated Investors CEO Christopher Donahue expects money fund fee waivers to cost Federated "a little under" the $15.5 million they previously predicted for all of the second quarter, as compared with a $17.8 million money fund fee waiver hit Federated suffered in Q1. (Federated worked with $272 billion in money funds as of March 31.)

Donahue shared that info and more when speaking Wednesday at a Keefe, Bruyette & Woods conference in New York. Among other tidbits, Donahue also revealed that Federated's equity funds have suffered net outflows so far in Q2. (Its equity fund assets totaled $30 billion on March 31.) 

Edited by: Neil Anderson, Managing Editor

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