As interest rates on short-term securities started rising and yield on money market funds increased, it has allowed fund managers to reduce fee waivers
Shift to VNAV fund structure reduces the likelihood of an investor stampede
Impact would vary by firm
RBS says the sale is part of its move to focus on its core businesses
Possible reforms in the U.S. and Europe threaten the traditional structure of constant net asset value funds
Change in investment objective would see management fees rise
Report makes 15 recommendations
Liquidity good
Money market funds are one important channel through which European crisis could impact U.S. financial markets
IFIC stresses domestic regulation of money market funds in submission to IOSCO