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This article on Money Market funds published in January's
Portfolio Adviser (pages 38 and 39) includes commentary from Kathy Byrne:
Money market funds are paying approximately base rate after charges. This is an improvement ... but the real problem with money market funds is that the wholesale or institutional rates are so much
lower than retail rates. A wholesale depositor might be lucky to get 2%, while a retail depositor could expect nearer 3%.
She points out that the options for holding cash have also substantially reduced in the past few years. Banks are paying relatively
high rates on cash deposits but many investors fear the banks themselves are not stable. The compensation fund protects holdings up to £85,000 but
many are reluctant to invest above this.
This article, written by Kathy Byrne,
Managing Director of Askis Limited, was published by Investment Week on 28th June 2010. It looks behind the money market performance tables to identify:
Read the complete article on the Investment Week website.
- How funds have performed under low interest rates
- Reasons for good and bad performance
- Which funds are a true cash alternative
- Levels of diversification within funds
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