Almost two-thirds of Fundweb readers shun money market funds

Just under two-thirds of Fundweb readers will not recommend money market funds, according to our latest poll.

Acording to the poll, 64.2% of respondents would not recommend the funds to clients as they found it hard to justify fees or felt there were better alternatives available.

The news came after the Investment Management Association (IMA) is to split the sector to accommodate Financial Services Authority definitions.

However, 28.5% of respondents felt the funds were a good diversifier for client portfolios.

In the year-to-date, IMA Money Market funds have seen net inflows of £46.9 million.

To receive more relevant articles like this one, why not sign up to our briefings and breaking alerts by clicking here.