Banks offer money funds with extra-short maturities

12/21/2010 | Bloomberg

JPMorgan Chase and a U.S. division of Natixis are trying to entice investors to move their money into federally insured deposits by offering shorter maturity on money market mutual funds. Crane Data said the average maturity of the offerings is 10 days or fewer, allowing managers to move into cash or other securities if faced with a troubled issuer. "They are aimed squarely at the paranoid cash manager," said Peter Crane, president of Crane Data.

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