BlackRock's Mark Stockley writes "Money Market Funds: A Global Story" for U.K. Treasury website He says, "The credit crisis of 2007-2009 changed both regulators' and investors' perceptions of the risks associated with many sectors of the investing markets. The money market fund (MMF) sector in particular has been subject to scrutiny by regulators around the world as the extent to which its role as a lender to financial and non-financial institutions in the short-term credit markets have become more widely understood. Just under US$5 trillion of assets were held in money market mutual funds (MMF) by the end of 2Q11, according to a report by the European Fund and Asset Management Association (EFAMA) and US-based Investment Company Institute (ICI). These assets were held in a range of product types and currencies, and domiciled in 42 countries around the world. The report shows that assets held in MMFs are concentrated in three main markets: first, the US, with US$2.7 trillion (55%); second, in countries adhering to the Code of Practice of the Institutional Money Market Funds Association (IMMFA), with US$648bn (13%); and third, France, with US$532bn (11%). French and IMMFA funds are registered as UCITS under EU regulation, with the latter principally domiciled in Ireland (US$456 bn1) and Luxembourg (US$192bn2)." See also, "Emirates NBD Asset Management Money Market Fund breaks 100m barrier".

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