BlackRock Plans Money Fund Changes to Meet New SEC Regulations
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BlackRock Inc., the world’s largest asset manager, said it would change its lineup of money-market mutual funds to make them comply with new federal regulations.
BlackRock, in an April 6 letter to investors, said it would offer funds that invest solely in government securities and others with floating net asset values that would invest in corporate debt. The company said it would have funds that limit holdings to securities with maturities of seven days or less. The firm also said it will offer separately managed accounts and private funds on a “limited basis.”