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, December 9–15 2017Receive this by email