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’Buck-ling money market funds
Here’s a novel solution to the problem of money market funds `breaking the buck’ in periods of financial stress and low interest rates — get rid of the `buck.’
From the Wall Street Journal:
A year after a money-market fund spooked investors by “breaking the buck,”
Holiday weekend catch-up
In case you missed these stories:
Macro hedge funds show double-digit returns
Hedge funds that place bets based on views of the global economic outlook are the only categories of the investment vehicles to have racked up double-digit returns so far this year.
Vanguard is top-selling US fund company
Investors poured $96bn in new money into Vanguard funds in 2007, making it the biggest-selling fund company in the US and ending American Funds’ six-year run at the top. Vanguard’s inflows took its assets under management to $1,300bn.
Vanguard eyeing UK fund launch
Vanguard, the US-based fund management mutual, is considering a possible UK expansion that could trigger a price war for retail investors. It has been contacting independent financial advisers over the past year to find out what types of Vanguard products their clients would be interested in buying and what fee level they would expect.