Money market mutual funds could continue to pay low yields, even after a future rise in interest rates turns their income around.

Once that happens, legal advisers warn investors that money market funds that absorbed fees to keep their net asset values from falling below $1.00 could look to recoup those fees, thanks to a claw-back or "recapture" clause in most fund prospectuses.

A recapture clause in most fund prospectuses, often located in the fine print, allows funds to recapture these waived fees once yields turn around.

Money fund yields have been extremely low—often just two basis points—since 2008, and likely would have been negative had fund companies not waived their fees. The Federal Reserve has said it plans to keep rates near zero for the near future, but once interest rates start to rise again, money funds will no longer have to prop up their NAVs.

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