Fitch: US Prime Money Fund Assets Consolidate Post-Reform

NEW YORK–(BUSINESS WIRE)–Vanguard and Charles Schwab are set to exert greater influence as prime money fund investors after significant market share gains following the introduction of money market fund reforms, says Fitch Ratings. The two fund managers are likely to have greater say on market access and issuer terms among prime money fund managers, although the balance of power in the short-term markets overall has shifted away from prime money funds. As of end-October, Vanguard and Charles