Top ten trades: Wednesday 27 April 2011 (all day) more >>
FEATURE: Robert Tyerman's Market View more >>
Market update (PM): Aggreko surges on trading update more >>
Barclays to remain in London more >>
Blue Chip Bulletin: Barclays reports first quarter profit drop more >>
Top ten trades: Tuesday 26 April 2011 (all day) more >>
Standard Life Investments has confirmed it is to exit its money market funds following a review of is cash investment business.
A spokesperson for the company said the decision to review its money market funds offering ahead of potential changes to the way the sector is regulated.
According to Standard Life Investments, money market funds could be brought 'within the scope of banking regulations' under proposed regulatory changes.
The decisions decided to exit the constant net asset value (CNAV) funds business to concentrate instead on funds with more variable net asset value.
The company is set to develop proposals, which will allow current investors to continue in CNAV-valued investments with a manager operating within banking regulations.
To receive more relevant articles like this one, why not sign up to our weekly newsletters, click herePrintPrintText SizeText SizeText SizeText SizeCommentCommentEmailEmailTwitterTwitter Comments Please register or login to comment on this article. Advertisement