Triple-A Rated Money Market Fund Sales Up

Assets of IMMFA member, triple-A rated, money market funds rose to US$130.4bn in the last quarter of 2002, according to the trade association. Dollar funds rose 19.7 per cent to $80bn, Euro funds grew 21.2 per cent to EUR18.3bn, whilst sterling funds fell 4.9 per cent to £21.6bn in the period to 31 December 2002. ‘We expect robust asset growth to continue in 2003, as corporations and governments continue to seek absolute safety and continue to build cash war chests,’ said Peter Crane, Managing Editor, IMMFA Money Fund Report.


Related reading

New consumer banking head for Citi Asia Pacific