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- Average returns on MMFs slump to 9 . 3pc
The average net-of-fee return on money market funds (MMFs) has fallen to 9.3% as of October 15, from 9.9% at the same time last year, reflecting lower interest rates on the funds' underlying assets. Domestic rates, including Treasury bills and commercial bank fixed deposits, have dropped further this year, reducing the return MMFs can generate from cash and near-cash investments.
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