Death by low yields

摘要

MONEY-MARKET fund managers have been in pain for some time. Investors withdrew $151 billion from such funds, which invest in short-term securities, in the first nine months of the year, according to epfr Global, a research firm. They took out almost $508 billion in 2010. With interest rates close to zero, money-market funds cannot offer a decent return. Many managers have been forced to waive their fees.