AP writes "Asset manager shares mostly rise on upgrades", which cites a report from Citi analyst Keith Walsh. The article says, "The trends should boost asset managers' earnings, which could be further enhanced by a potential flow of investor cash out of safe-harbor money-market funds and into fixed-income investments and equities, Walsh said. Trends suggest money-market assets peaked in last year's fourth quarter and this year's first quarter, he wrote. Money funds -- typically short-term investments from which money managers earn relatively small fees compared with longer-term investments -- became safe havens for many investors amid the market turmoil of last fall and early this year. Historically, longer-term funds attract more cash during market recoveries when investors flee money funds for riskier investments offering potentially higher returns." Also, hear the Webcast of Federated's Investors President and CEO J. Christopher Donahue at Keefe, Bruyette & Woods Financial Services Conference.
