Money-market fund managers eyeing ways to get around new SEC rule
Billions of dollars may end up leaving regulated funds and moving into pools that are outside regulatory reach
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New York
REGULATORS' attempts to prevent another run on the US$2.7 trillion money-market fund industry is having some unintended consequences.
Some of the largest fund providers, led by Federated Investors Inc and BlackRock Inc, are considering offering private funds with a fixed US$1 share price as an alternative to institutional prime funds that were forced last year to adopt a floating price. Invesco Ltd is discussing several alternatives with clients, including letting them move money into its existing private pool, said Lu Ann Katz, who heads the firm's global liquidity business.
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