The asset management group of the Securities Industry and Financial Markets Association said it opposes a floating net asset value for money market funds but otherwise supports the Securities and Exchange Commission’s proposed enhancements to the funds, echoing the sentiments of the Investment Company Institute.

SIFMA said the SEC’s proposes would help the funds resist economic stresses, reduce the risks of significant redemptions and facilitate the orderly liquidation of a money fund that breaks the buck. Specifically, it supports proposals to limit the funds’ risk exposure, increase reporting requirements and raise cash minimums.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.