Trends in the European Investment Fund Industry in the Second Quarter of 2011 and Results for the First Half of 2011
Trends in the European Investment Fund Industry in the Second Quarter of 2011 and Results for the First Half of 2011
Investors in MMMFs choose these funds because of the stability and liquidity that they provide 22 . This is precisely why these investors are prone to run during a financial crisis when either or both of these product features may be compromised. If investor losses resulted from market events more frequently, it is possible that the investor base and level of interest in the funds today would be very different. But, as this paper shows, such outcomes are not frequent, as even in times when marke