More NewsMoney Market Funds Up On Year

Money Market Funds Up On Year

Assets under management for triple-A rated money market funds promoted by IMMFA members grew to US$174.5 billion at the end of 2003, up from US$130 billion at the previous year end. Peter Knight, Chairman of IMMFA commented: ‘IMMFA money market funds have continued to show sizeable growth in real terms, notwithstanding the current challenging environment for managed debt and the rebound in equity markets. Our aim in 2004 is to continue to expand the membership of IMMFA and help members increase their assets under management.’

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