It looks as if investors decided to take a more risk-on approach during December against the backdrop of steadily rising markets according to a new report from credit rating agency Moody’s, which looks at the US prime money market fund market.
The repor notes that the assets of a surveyed group of US institutional prime money market funds fell by 5% during December as nine out of ten funds lost assets even though the group still produced a positive return for investors in the period. The group surveyed by Moody’s generated a total profit for investors of 6% for the quarter to the end of December.
[munger]
Rather than this being a significant shift in risk attitudes among investors, it looks...
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