Barron's writes "Low Yields Are Just One of Money Markets' Woes". The error-filled article says, "A 30-day Taxable money-market fund [sic] offers an average yield of 0.04%. Little wonder then that investors on balance have pulled $1 trillion out of them since the beginning of 2009. As tough as that is on shareholders, it's more brutal on the business.... There are other challenges as well for the business.... Portfolio managers are still struggling to find investments that provide as much yield as possible without taking undue risks, while coping with new regulations designed to prevent a repeat of fund failures that were a highlight in the financial crisis. This environment contributed to the more than $40 billion of money-market funds [note: this number is incorrect] that have been sold, traded or closed so far this year. Money-market funds 'face some pretty meaningful headwinds,' says Nathan Flanders, a member of Fitch's funds and asset-management team. 'The low-yield environment, the search for suitable assets and more conservative changes to the regulatory environment' are among them." In other news, a press release entitled, "`Principal Financial Group Completes Successful Money Market Mutual Fund Test Filing Using Confluence Unity Platform," says, "Confluence, the global investment management industry's leading provider of automated data management solutions today announced that the Principal Financial Group has completed its first successful Money Market Mutual Fund test filing of Form N-MFP using XML (eXtensible Markup Language) structured content."
