14.08.2014 22:53:00
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Moody's: US money market funds' assets under management drop for second consecutive quarter
New York, August 14, 2014 -- US-based money market funds' (MMF) assets under management (AUM) declined 4% to $628 billion in June from March. This represents the second consecutive quarterly decline as money market fund reform loomed. Euro-denominated MMFs saw an 18.2% rebound in AUM to EUR74 billion as a result of increased M&A activity, which resulted in cash being parked in funds until the official close of deals. Sterling MMFs' AUM remained stable at about GBP100 billion throughout the quarter.