ICI Viewpoints Content

Prime money market funds reduced their holdings of eurozone issuers to 12.2 percent of assets in June from 15.5 percent of assets in May.

The financial press last Friday was full of headlines like the following: “NY Fed Report Advocates Limiting Some Money-Market Fund Withdrawals.” I had to stop and ask myself, “Why is this news?”

Floyd Norris’ column, “Money Market Funds and Their Allies Resist New Rules,” falls into the trap of concluding that money market mutual funds are banks. They’re not.

A recent DealBook column about money market funds distorts the truth and omits essential facts. We’d like to correct the record and review a few key points that the DealBook author, law professor Steven M. Davidoff, seems to have missed.

Today the European Commission adopted a proposal for revisions to the Undertakings for Collective Investment in Transferable Securities (UCITS) framework, which governs cross-border retail investment funds in Europe.

An article in the July 2 issue of Fortune about the 401(k) system mischaracterizes 401(k) fees and requires correction.

No one with actual expertise in the money market could recognize the false picture of money market funds that the Wall Street Journal paints in a recent editorial (“A History of Money Funds,” June 22).

If you’re like most investors, money market funds mean stability, liquidity, and convenience. Yet, some of these hallmark features could become a thing of the past if the Securities and Exchange Commission (­SEC) imposes redemption restrictions on money market funds. How would these...

Today, I provided ICI’s views on the state of the money market fund industry at a hearing of the Senate Banking Committee, “Perspectives on Money Market Mutual Fund Reforms.” My message to legislators was clear: Persistently viewing money market funds through the narrow prism of 2008...

In her testimony at a hearing today before the Senate Banking Committee, Securities and Exchange Commission (SEC) Chairman Schapiro made this statement. “Based on an SEC staff review, sponsors have voluntarily provided support to money market funds on more than 300 occasions since...