The symbol "FMMFO" is being used by the stock exchange for the shares of Faysal Money Market Funds
During the first half (H1) of the year, money market funds
boosted their net assets to reach EGP 45.1bn, a growth of 15.5% since the end of last year.
The rate rise is significant beyond the direct effect on yields because it reduces the risk that sterling-denominated money market funds
may incur negative yields and, as a result, need to implement reverse distribution mechanisms.
A recent spate of cases alleging breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) connected to stable value funds, money market funds
and other “principal protection” investment options raises fiduciary compliance questions for plan fiduciaries and advisers.
When the Securities and Exchange Commission proposed a new rule for money market funds
in the summer of 2014, then-Chair Mary Jo White said the reform would "reduce the risk of runs in money market funds
and provide important new tools that will help further protect investors and the financial system."
rules for money market funds
, and investment managers say it may take several more months for insurers to settle on the best use of their liquidity.
The day after the SEC adopted the new liquidity rules for mutual funds and ETFs, a 2014 rule regarding money market funds
finally became effective.
It will be an excellent addition to our existing family of money market funds
, comprised of the BMO Prime Money Market Fund
, BMO Tax-Free Money Market Fund
and BMO Government Money Market Fund
, which will remain ideal for institutions with a preference for a stable NAV.'
Vanguard investors will now have access to two low-cost US government money market funds
. The firm announced in June that it was reopening its USD4.8 billion Federal Money Market Fund
(VMFXX) to all investors.
relating to its management of two money market funds
, the company said.
Some qualified retirement plan sponsors and service providers are misinterpreting the likely impact of the Securities and Exchange Commission (SEC)'s money market fund
(MMF) reforms, opining that the rulemaking will necessarily drive defined contribution (DC) plans away from retail money market funds