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Wednesday, August 14, 2013|
Fund Firms Mostly on Board With Floating NAV
In the case of money fund rules, big money fund sponsors would rather root for the devil they know, The Wall Street Journal's Andrew Ackerman writes.
J.P. Morgan [profile] and Goldman Sachs [profile] expressed support for the SEC rule that would require the riskiest money funds to float their NAV, Ackerman reports. The rule would only apply to large institutional investors.
The previous discussion around money fund regulations included proposals that required all money funds to float the NAV and restrictions on fund redemptions. Charles Schwab [profile] supports the current plan while Vanguard Group [profile] won't oppose it, Ackerman writes. Ackerman reports that Fidelity still opposes the floating NAV.
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