Market Currents
Legal & General Investment will shut down its €257M money market fund, the latest sign...
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Wednesday, September 5, 2012, 12:16 PM ETLegal & General Investment will shut down its €257M money market fund, the latest sign management firms are struggling with barely visible and even negative rates. This summer, LGIM had joined other funds in closing to new money in wake of the ECB cutting deposit rates. The larger managers are considering passing on negative rates to investors. That should go over well.
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