It is among the country's largest money market fund
managers based on assets under management according to iMoneyNet as of 3/31/17.
BMO Global Asset Management, a part of BMO Financial Group (TSX:BMO) (NYSE:BMO), has said that it has launched the BMO Institutional Prime Money Market Fund
to provide institutional and retail investors with a money market fund
that will eventually have a floating net asset value (NAV).
However,] just like in 2008, when the largest money market fund
in the nation 'broke the buck,' due to its holding of Lehman Brothers and some structured investment vehicles [SIVs] associated with distressed mortgages, there's a chance assets in the retail funds can depreciate.
A "governmental" money market fund
invests at least 99.
Among institutional funds, taxable government money market fund
assets decreased by $13.
Federated Investors (UK) LLP provides the only Institutional Money Market Funds
Association (IMMFA) money market funds
to be domiciled in the UK and authorised by the Financial Conduct Authority (FCA).
Money market fund
managers are required to submit the Net Asset Value, or NAV, to the SEC every month.