BlackRock Shakes Up Money Market Offerings Ahead Of Impending Regulatory Changes

Earlier this week, BlackRock detailed plans to revamp its money market funds to ensure their compliance with new regulations adopted by the Securities and Exchange Commission last July. The global asset management leader will discontinue some of its money market offerings, merge similar funds, and also convert some of them into floating NAV (net asset value) funds. The changes will reduce the number of BlackRock?s money market funds from the current figure of around 50 to roughly 30.