A recent report by Fitch says that over half of Institutional Money-Market Funds Association (IMMFA) euro MMFs by assets have adopted or publicly announced they are in the process of adopting structural share class changes in response to potential negative euro money market yields, amounting to nearly €50bn assets. Investors have been accepting of this: changes have been approved at extraordinary general meetings (EGMs) and outflows have not been unusually high compared to seasonal patterns. Fitch added that it expected more fund complexes to follow suit.
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