WSJ writes "​BlackRock CEO Sees Money Fund Fix". It says, "BlackRock Inc. Chief Executive Laurence Fink said stricter regulation could be on the way for the $​2.​6 trillion money-​market-​fund industry, in which BlackRock is a major player. Mr. Fink said during the company'​s earnings call Tuesday that he expects the Securities and Exchange Commission to impose "​some sort of" floating net asset value on prime money-​market funds, a departure from the stable $​1 share price such funds seek to maintain. Prime money funds invest in short-​term corporate debt, unlike government funds, which invest only in government securities.... 'We have been very loud from the very beginning, saying that money funds need to have structural changes,' said Mr. Fink, whose firm manages money-​market-​fund assets of $​147.​2 billion, according to Crane Data LLC. `​But Mr. Fink added that, in the short run, he expects investors to pull money from prime money funds and move them to government funds, if the SEC imposes a floating value. A spokesman for the SEC said the agency'​s staff "​expects to have something for the commission'​s consideration in the near future" but declined to comment on what those rules might be."

Your Name:
Your Email:
Recipient Email(s):

Use a comma or a semicolon to separate

Please retype symbols from the image:

Optional Message

Daily Link Archive