The past year has seen investors pull more than half a trillion dollars from prime money market funds, leaving asset managers scrambling to react. What once was a $1.79 trillion industry has shrunk by more than a quarter, drawing demand from commercial paper markets and pushing up short-term rates. If prevailing opinion is right, the outflows are far from over. But for some this so-called ‘Big Shift' is an opportunity they have long been waiting for.
The trigger for the exodus has been the Secur
The week on Risk.net, July 7-13, 2018Receive this by email