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...“The World Cup was not bought and there were no slush funds,” said Tilman Reichling, a lawyer for Schmidt....
...They owned Olympique de Marseille when a Qatari fund bought rival French club Paris Saint-Germain in 2011 and flooded it with money and elite talent....
...European investor allocations to environmental, social and governance exchange traded funds slowed down in the first quarter of 2024 as the sector endures an “existential crisis”, Morningstar research shows...
...The figures also point to a potential avenue of growth for under-pressure active mutual fund managers, many of which are haemorrhaging assets as money flees to lower-cost passive investing....
...Unlike government debt-focused money market funds, prime funds are able to hold short-dated commercial paper, including bank debt....
...But the type of money market fund that will be directly affected by these new rules are called prime institutional money market funds....
...In response, Dreyfus itself is “extending duration to hold on to yields for as long as we can” within money market funds, explains Tobin, so that “money funds’ yields are going to look great versus direct...
...Strong inflows from both institutional and retail investors powered US money market funds to another record high, as total assets hit $5.97tn for the seven-day period ended January 3, according to the Investment...
...For instance, the Dreyfus Money Market Fund, which is part of Bank of New York Mellon, has some $2.4bn in assets under management. It’s been around for 41 years....
...US money market fund providers — such as Fidelity, Vanguard and Charles Schwab — collectively earned $7.6bn in fees in 2023 as assets passed $6.3tn, according to government figures....
...Three more US regulators have opened probes into Morgan Stanley, managers are planning to shut or convert US prime money market funds ahead of new regulations, and the European Central Bank held interest...
...The amount parked in US money market funds reached a new record this week at $5.73trn, reflecting investor enthusiasm for the high short-term rates on offer....
...This is based on the principle that when markets are low, you acquire more for your money, and when markets are high, you acquire less....
...In our new miniseries The Five Minute Investor, consumer editor Claer Barrett challenges FT markets columnist Katie Martin to explain the hype around these gigantic US stocks....
...“Their transparency and inability to close [to new money, as mutual funds can] could pose capacity problems for concentrated, high active share strategies that rely on a handful of best ideas.”...
...“It has put cash and money market funds front and centre with many of our clients, and raised the hurdle rates for what risk assets need to deliver....
...Aspect has increased its leverage from a long-term average of four times to seven times, meaning that for every dollar of investor money, they are exposed to seven times the market moves....
...Charles said the firm’s recent fundraising was a sign of strong appetite among institutional investors, including insurers, pensions funds and family offices, to put money into the sector....
...The rally has been one of the most ferocious but also mysterious, since most of the demand is coming from China and a sell-off is under way at exchange-traded funds and bullion dealers in western countries...
...But let’s suppose it here just means a risk that a government becomes unable to borrow money to spend....
...However, industry figures say that as the OFR has still not been implemented, interest in the UK market from newer issuers is dissipating, with only the most determined prepared to spend the time and money...
...A volatile market backdrop over the past two years encouraged investors to keep money on the sidelines or even pull out of bond funds, helping drive up borrowing costs and limiting companies’ access to fresh...
...The $674bn US institutional prime money market funds sector is set to shrink by at least one-third this year, as large investment firms shut down these vehicles rather than pay for upgrades needed to meet...
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