|
|
Article: Focus: Money-market funds.
- Article from:
- Investment Adviser
- Article date:
- March 16, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Stephen Wilmot
As governments stand by their banks, sovereign risk has replaced individual corporate risk, shifting the goal posts of money-market investing
Money-market funds have been at the very eye of the financial storm. Many industry commentators date the global crisis back to August 9 2007, when BNP Paribas suspended valuation and trading on three of its liquidity funds. This was the day the fixed interest world went public with its health problems.
Going public did little to ease the pain, however, and victims continue to emerge even now. Standard Life announced last month it would spend approximately GBP100m compensating ...