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Market spotlight: Money market funds and recent rate cuts



By STEPHEN BERNARD, AP
02 May 2008 @ 05:42 pm EST

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Quotes
SCHW 21.91 -1.15
AB 50.92 -4.05
AMP 41.62 1.11
BAM 32.75 -0.64
BEN 95.19 -4.77
BLK 212 -10.57
FII 34.23 -1.63
JNS 28.36 0.96
LAZ 38.55 -0.22
LM 38.21 -1.99
PFG 41.18 -1.25
PJC 34.06 -1.22
SF 40.6 -1.15
WDR 32.87 -1.07
AMTD 18.38 -0.84
ETFC 3.03 -0.38
JPM 39.14 -2.82
KBW 25.62 -0.27
TROW 56.01 -3.24

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Regardless of product type, if investment managers can keep the business within their company, profitability for investment managers will improve, Snowling said.

Generally, fees gained on money market accounts are much smaller than fees on fixed income or equity products, Snowling said. The higher margin products would help profitability, he said.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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