Three big-name mutual fund shops, including Fidelity Management & Research Company, State Street Corporation and Federated Investors, are warning the Securities & Exchange Commission that eliminating the fixed $1 price of fund shares will scare away many investors who want some minimum level of value stability in their assets.

Meanwhile, a co-founder of BlackRock said Friday that money market mutual funds would survive, if their asset values would allowed to float from their historical $1 net asset value per share.

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