Asian treasurers in slow shift towards money market funds
Treasurers based in Singapore and Hong Kong will be leading the investment into money market funds in Asia, predicts a senior director at Pictet Asset Management.
Money market funds (MMFs), a type of mutual fund first developed in the 1970s, have emerged as a trillion-dollar market in the US – with total assets reaching $5.9 trillion as of the end of November 2023, according to the Investment Company Institute (ICI) while in Europe, assets held in MMFs stood at €1.1 trillion ($1.18 trillion).
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