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more links »IndexUniverse: More on "Cash" ETFs
Website IndexUniverse writes "ETFs 'Poaching' the Market", which discusses the possibility of a "money market ETF". It cites the recent filing of SSgA's SPDR S&P Commercial Paper ETF and the recent launch of WisdomTree's U.S. Current Income Fund (USY), but says, "None of these funds, however, will be able to call themselves actual money markets just yet." It quotes our Peter Crane, "Right now, ETFs are beginning to hover around the edges of money market mutual funds. But they're not the same thing as money market mutual funds. The seeming simplicity of maintaining a stable value is actually a formidable obstacle for the ETF industry." Also, see Crane Data's July 17 story, "SSgA Files to Launch SPDR SnP Commercial Paper, First Cash ETF", and see IndexFunds' other new article, "Money Market ETFs In Europe".
IBD: "Parent Firms Bucking Up The Buck"
Investors' Business Daily writes "Parent Firms Bucking Up The Buck", which says about 17 advisors to date "bolstering" their money market funds, "So far the strategy has worked. No fund has broken the buck." IBD quotes Peter Crane, "Money market funds, though they've had painful bailouts, benefited from this.... High yield is good when it comes from certain things. Low expenses are good. A big, diversified (portfolio) is good. Also, a big asset base gives you protection." Also, see ignites.com's "Money Funds Act to Address Investor Concerns", which summarizes recent communications efforts by money funds. (The article was derived in part from Crane Data's "Money Funds Step Up Communications With Conference Calls E-mails").
GTNews "Guide to Money Market Funds"
European Treasury publication GTNews just posted a "Guide to Money Market Funds - Part I: The Current Landscape", which "considers the advantages of money market funds and key investment issues that corporate treasurers should keep at the forefront of their minds." BlackRock's Mark Rimmer compares bank deposits vs. money funds (in the U.K. and "offshore" market), discusses key steps for investing and lists key questions treasurers should ask their money fund providers.