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Ready to Bail on Money Funds

Mandated floating NAV would prompt most treasurers to pull out assets, survey says.

By Susan Kelly | Updated on April 19, 2012

Treasurers would vote with their feet if the Securities and Exchange Commission implements some of the changes in money fund regulations currently under discussion. Most say they would stop using money funds or decrease their use if the SEC requires funds to adopt a floating net asset value or imposes a redemption holdback on the funds, according to a survey commissioned by the Investment Company Institute and conducted by consultancy Treasury Strategies.

The survey results raise the possibility of “hundreds of billions of dollars leaving money market funds,” says Cathy Gregg, a partner at Treasury Strategies.

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