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 |
|
Friday, May 4, 2012 FT Starts Money Fund Reform Coverage News of the brewing court war between money market fund sponsors, the ICI and the SEC has leapfrogged the Atlantic and into the pages of the Financial Times. The paper reports that the Investment Company Institute and Federated Investors along with firms such as Fidelity Investments and Charles Schwab have been included in a file of comment letters filed with the SEC. The paper picks up on the SEC's exploration of floating NAVs or capital buffers in conjunction with redemption restrictions. The report claims that the ICI claims that such a move would essentially annihilate the money fund industry. Peter Germain of Federated revealed told the news service that Federated is "continuing the dialogue [with the SEC], but we're doing it by filing comments that we think provide insights into the potential impact of what we understand they're considering, in hopes it informs their decision on the ultimate rule proposal." Printed from: MFWire.com/story.asp?s=39923 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |