In the Margins

Fund conversion depresses money fund AUM

April 6, 2016

By Reuters

U.S. money market fund assets have plummeted, largely largely because one fund changed its status as a money fund to a short-term bond fund amid regulatory changes for the industry,Money Fund Report said. The $40.15 billion Prudential Core Taxable Money Market Fund converted to the Prudential Ultra Short Bond Fund, causing a $64.03 billion drop in overall money fund assets to $2.713 trillion in the week ended April 5. Read the original story from Reuters.

 

 

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