Morningstar Canada's Rudy Lukko writes about the first Canadian money market ETF in today's Toronto Star. The Claymore Premium Money Market ETF (CMR) has an expense ratio of 0.25%, likely one of the lowest among Canada's retail-oriented nascent money fund industry (see our MFI 3/08 "Canadian Money Funds: Preparing for Takeoff?").

Lukko says, "Yet money funds have been popular amid the current shaky equity markets. In January, the Investment Funds Institute of Canada reported record one-month sales of money market funds.... A disadvantage is that trading commissions are payable to buy or sell units."

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