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European MMF Reforms require funds to hold no more than 10% of an Issuer


JP Morgan are the latest to have summarised the changes in the European Rulebook for Money Market Funds. In "European Money Market Reform: CNAV,LVNAV and VNAV," they highlight the main components of European Money Market Reform.

 

These rules will apply to all Money Market Funds (​MMFs) established, managed or marketed in the European Union and in particular to collective investment undertakings that are run as UCITS or AIF and which invest in short term assets whilst preserving the value of the investment or offering returns in line with money market rates.

 

The new rules became effective for new funds on 21st July 2018 and will apply to existing funds on 21st January 2019. By this date European Money Market Fund will also need to make sure that they do not hold more than 10 % of the money market instruments, securitisations and ABCPs issued by a single body. 

 

Money Market Funds that wish comply with article 18 of these rules should contact CMDportal. We offer a unique service for Money Market Funds.



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