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MOF plans to launch
Money-market funds in June
The Ministry of Finance (MOF) plans to start the operations of money-market funds, a type
of mutual funds resembling savings accounts.
The sources of MOF said, the law is expected to be passed by the Legislative Yuan in March. Currently, even mutual fund companies are not permitted to issue money-market funds, they are allowed to launch either stock funds or bond funds.
Money-market funds buy the best-yielding
short-term corporate or government issues. However, the ministry will also permit
money-market funds to engage in real estate and foreign exchange. Trust and investment
firms will start the new business in June.
Monday, February 14, 2000
Source: Taiwan Headlines
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