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, July 3, 2013 U.S. Money Market Funds Credit Profiles Are Worse U.S. money market funds increased their exposure to European financial institutions by $21.2 billion in the first two months of the second quarter, the WSJ ’s Anna Prior reported. Moody’s Investor Service released the numbers, which also showed money market funds underwent credit deterioration as 5.9 percent of those investments and 3.9 percent of offshore funds changed from triple-A and double-A to single A-rated securities. Prior wrote that money market funds sensitivity to credit risk increased because they were exposed to slightly longer dated securities and due to a deterioration in credit profiles. NAV fell 0.9918 on average from 0.9923 at the beginning of the second quarter for U.S. domiciled funds. To read more, click here a> Printed from: MFWire.com/story.asp?s=44720 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |