BlackRock CEO Laurence Fink mentioned money market funds a couple of times during the company's recent Q3 2016 Earnings Call. He commented, "While we continue to deliver strong growth, base fee growth has recently lagged growth and average assets under management as client appetite and portfolio construction decisions impact our business mix. In the current environment, client mixed shift has favored index over active, fixed income and cash over equities and government funds over prime funds in the money market space." He added, "Cash management inflows demonstrate the breath of our platform and strength of our client relationships in the lead up to U.S. money market reform. Since the beginning of the year, our platform has experienced a remarkable shift from prime to government funds. BlackRock is now the second largest 2a-7 money fund provider in the United States and our diverse capabilities across separate accounts, collective trusts and short duration products, positions us well for continued future growth." In other earnings news, Northern Trust also briefly mentioned money market funds in its latest earnings release. Northern says, "Trust, investment and other servicing fees increased primarily due to lower money market mutual fund fee waivers and new business, partially offset by the unfavorable impact of movements in foreign exchange rates.... C&IS investment management fees increased primarily due to lower money market mutual fund fee waivers."

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