Since the July 2014 announcement of the reforms, investor interest in money market funds remained stable, growing by about 0.40%. The number of funds offered in the space is 100 fewer funds than at the time of the initial announcement, with about 50 funds closing or consolidating in 2016.
Investors prepare for market reform
Fidelity and J.P. Morgan had the largest outflows from their prime funds year-to-date through July, but saw comparable flows into their government security back options. Fidelity's Government Cash reserved fund is the asset leader among its peers, followed by the Vanguard Prime Money Market fund.