Briefing with ICI General Counsel on Money Market Funds

Money market mutual funds provide a valued tool for cash management and a crucial source of short-term financing for businesses, state and local governments, and nonprofit institutions. Investors entrust money market funds with $2.6 trillion in assets because these funds provide convenience, diversification, and liquidity with a stable $1.00 share price. A rulemaking proposal issued by the U.S. Securities and Exchange Commission could undermine the key features of money market funds. One option would force many funds used by institutions to abandon the stable $1.00 net asset value (NAV) and to ''float'' their net asset value instead. The Investment Company Institute and the U.S. Chamber of Commerce have led the fight against the floating NAV. You're invited to a briefing by ICI General Counsel Karrie McMillan on the threat these proposals pose to money market fund investors and how you can make your voice heard to oppose the SEC's floating NAV proposal.