U.S. prime money funds may see more outflows: Fitch's Fayvilevich

October 14, 2016 10:27 AM EDT

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NEW YORK (Reuters) - U.S. prime money market funds may see further outflows in the coming weeks after the final phase of regulatory reform for the $2.6 trillion industry is implemented, Fitch Ratings' senior director of funds and asset management Greg Fayvilevich said on Friday.

He said roughly $300 billion of the asset outflows from prime money funds would not return due to conversion of some funds into ones that own only government securities.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)



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