Four of the top-10 U.S. money-market fund providers said they will disclose daily market values for the funds as regulators consider banning the use of a constant $1 share price.
BlackRock, the world’s biggest money manager, said it would begin revealing daily net-asset values for all of its U.S. money funds next Wednesday. Goldman Sachs Group said it had begun to disclose the values for its funds that are eligible to purchase commercial paper, or prime funds.
JPMorgan Chase said it would take that step for all money funds, starting with prime funds on Jan. 14, and BNY Mellon said it would make daily market values available going forward.
The goal is to diffuse the misperception that’s been created by regulators that fund share prices are an accounting fiction, said Peter Crane, president of research firm Crane Data.
- Costco will buy most farmed salmon from Norway, not Chile
- Mariners prospect hit by boat dies at age 20
- Let's cut traffic by road rationing, Italian style
- Italian court throws out Knox conviction once and for all
- Russell Wilson hits homer with Texas Rangers
Most Read Stories
Regulators led by former U.S. Securities and Exchange Commission Chairman Mary Schapiro have worked to impose tighter restrictions on money funds since the September 2008 collapse of the $62.5 billion Reserve Primary Fund.