Investment News writes "Huntington won't waver on fee waivers for money funds". It says, "Despite low yields on money market funds, Huntington Asset Advisors Inc. plans to continue waiving the management and shareholder fees on its four money market funds indefinitely. Huntington began waiving the 40-basis-point management fee and 25-basis-point shareholder administration fee on its four money market funds in late 2008 and will continue to do so until yields rise, according to Randy Bateman, the firm's president and chief investment officer." Bateman says, "Huntington has chosen to forgo profitability on its money fund complex.... While there is a temptation to take more risk to increase yields, we aren't going to do that." The piece adds, "Money fund yields have been close to zero for several months, but most firms, like Huntington, are bearing down and waiting for better times, said Pete Crane, president and chief executive of Crane Data LLC." It quotes Crane, "Banks make more on bond funds than they do on money funds." IN adds, "And there isn't much opportunity for money funds to take on additional risk, Mr. Crane said. The Securities and Exchange Commission passed rules this year that restrict money funds' holdings of lower-quality securities and require them to keep at least 30% of assets in securities that mature within seven days." "Money funds are basically glorified index funds," Mr. Crane said. "You take what the Fed gives you."

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