|
|
Article: Doman sees rise in money market funds.
- Article from:
- Financial News
- Article date:
- July 20, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. 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)
|
Marc Doman, managing director of AIM Global, says that the days of money market funds in Europe acting the poor relation to those in the US are nearly over.Currently, assets in US money market funds dwarf those in Europe, with around 40% of US companies' cash invested in money markets, compared with 5% in Europe.
Doman says: "This is set to change. Money market funds are one of the fastest-growing products in the industry."
Other industry players say that the potential for money markets in Europe is huge. Paul Skinner, head of fixed income business development at Gartmore, says: "We have seen tremendous in-flows, and cash in general is establishing ...