"Standard & Poor's Launches 'AAAm' Principal Stability Fund Risk Metrics in Europe," says a press release issued by S&P yesterday. The new risk metrics are "intended to enhance the level of detailed information available to European money market fund investors." Credit analyst Andrew Paranthoiene says, "The 'AAAm' risk metrics aim to provide investors and fund managers with greater clarity on our view of the credit quality of the fund, as well as information regarding the portfolio composition, maturity distribution, net assets, monthly growth, and performance of 'AAAm' ... funds." The release adds, "Based upon Standard & Poor's weekly information collected on its 'AAAm' rated funds, the risk metrics are the product of a quantitative work undertaken that can be utilized by market participants as a benchmarking tool to better assess the risks of over 130 U.S. dollar, euro, and British pound sterling-denominated European and offshore funds." In other news, ICI released its "Trends in Mutual Fund Investing March 2009", which shows that money fund assets decreased by $74.2 billion in March to $3.816 trillion. YTD through 3/31, money fund assets have decreased by $16.4 billion.

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