FinancialWeek: Super-Premium Shares "Big Drop in Money-Market Fees". Following up on
Crane Data's July Money Fund Intelligence article "
How Low Can Money Fund Expenses Go?", this week'
s
Financial Week writes on the "Big drop in money-market fees". "
With corporate finance execs and institutional asset managers shopping around for the best deals on money-market funds, expense ratios are falling to new lows. And a new segment of money-market funds is cropping up as a result, catering to the so-called super-premium end of the market". The article quotes
Peter Crane, "
As investors use more money funds and become more yield sensitive, the money is getting hotter. And that money moving around is causing a lot of companies that heretofore could bank on their good name or credit quality to ask 'Can we afford to have 20 basis points as our lowest-cost institutional money fund?'." It mentions the recent introduction of
Wells Fargo Advantage Cash Inv MM Select and new filings for
UBS and
State Street funds.