Money market funds long sold shares in normal times at a stable price, usually $1.00. But in the financial crisis, one fund “broke the buck” and investors fled. A new rule requires shares of some types of funds to trade at a market-based net asset value. The OFR’s analysis finds that so far these values have not varied much.
The full article is available at https://www.financialresearch.gov/from-the-management-team/2017/02/14/money-market-fund-floating-nav/