Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Floating NAV of Money Funds Needs Cost Analysis, Fetting Says

March 7 (Bloomberg) -- Eliminating the stable $1 share price of money market mutual funds would require a cost benefit analysis beforehand, said Legg Mason Inc.’s Mark Fetting.

“Tweaking the product is a far better solution than something extreme like that,” Fetting, chief executive officer of the Baltimore-based money manager, said today at the 2012 Citigroup Financial Services Conference in New York.

Fetting said if “extreme conditions” were imposed on money funds by regulators, Legg Mason may be forced to revisit the business. Legg Mason had $631 billion in assets under management as of Jan. 31, about 18 percent of which was in liquidity funds, he said.

To contact the reporter on this story: Alexis Leondis in New York

To contact the editor responsible for this story: Christian Baumgaertel at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.