"Money fund assets fell 6% in 2Q" says Investment News. The article writes, "Assets of money market mutual funds declined by $215 billion, or 6%, in the second quarter, according to Crane Data LLC, a Westborough, Mass.-based research firm. Money market fund assets stood at $3.6 trillion on July 29, Crane reported, down $196 billion, or 5.1%, from their level at Dec. 31." IN quotes Peter Crane, "I estimate that assets will decline by a total of 10% by the end of the year because of the ultra-low interest rates. The Fed is forcing people into riskier assets." The article writes about our Money Fund Distribution Survey, "The report found greater concentration in the money market business, with the largest 25 fund complexes accounting for 94.3% of money fund assets as of June 30, compared with 91.2% a year ago." In other news, see the latest comment on the SEC's Proposed Money Market Fund Reform from iMoneyNet Managing Director Randy Wood.
