Fitch Ratings writes "​End-​May MMF Snapshot Reflects Continued Search for Yield". It says, "Fitch Ratings has published the latest edition of its monthly money market fund (​MMF) snapshot report, with data as at end-​May 2013. The latest edition includes three newly rated offshore liquidity funds managed by Aberdeen Asset Management. Fitch now rates just under USD1trn of MMF assets in Europe and the US. Euro MMFs have continued to increase in their weighted average lives (​WALs), in response to the current low yield environment. The average WAL for euro funds was 56 days at end May, up from 49 days at end April. This is mirrored in a decrease in liquidity; average euro MMF daily and weekly liquidity stood at 28% and 35% respectively, down from 32% and 42% respectively at end April. Nonetheless, liquidity remains high, above Fitch'​s '​AAA' criteria. Fitch will closely monitor risk parameters as recent market volatility calls for conservative positioning."

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