BOSTON Jan 11 Fidelity Investments, the No. 1
U.S. manager of money market funds, said Friday it will begin
posting daily asset values of the popular investments, which are
being pressured by regulators to be more transparent and less
susceptible to mass redemptions.
Fidelity's move follows declarations by other big money fund
sponsors this week that they would post daily asset values of
their money funds, including Goldman Sachs Group Inc,
JPMorgan Chase & Co and BlackRock Inc. Fidelity
had previously said only that it was considering a similar move.
Boston-based Fidelity said it will begin the daily
disclosures on Jan. 16. Fidelity leads the industry with nearly
$430 billion in money market fund assets under management.
Like other companies, Fidelity said the disclosures will
help clients better understand the value of their underlying
holdings. Some analysts also regard the new disclosures as a way
to blunt or stave off new regulations.
Officials in Washington have called for steps such as
requiring money funds to abandon their traditional $1-per-share
value, moves some fund executives had feared would drive away