Earlier this year BlackRock, the largest asset manager in the world, announced that it would follow Fidelity and Federated in making changes to its money market fund offerings. These changes are in response to Securities and Exchange Commission reform rules announced during the summer of 2014.
The new changes apply principally to institutional prime money market funds. These funds invest primarily in corporate debt securities and are not available to retail investors. Any company offering a non-government money market fund in its 401(k) plan, it is likely to be an institutional prime money market fund that will be impacted by these changes.
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