Brussels, 14/04/2014 (Agence Europe) - The draft regulation on money market funds (MMF) unveiled by the European Commission in September (see EUROPE 10914) will make investment in MMFs far less attractive, be they CNAV (constant new asset value funds) or VNAV (variable net asset value funds), argues PensionsEurope, which represents national pension funds, in a report published on 9 April.
The Commission decided not to ban CNAV, preferring to require them to have a liquidity buffer of 3% of...