NEW YORK ( TheStreet) -- Money-market funds are "well-executed fictions," writes Don Phillips, Morningstar's president of fund research. The illusion centers around the fact that the funds always price their shares at $1.As a result, investors view money-market funds as interest-bearing checking accounts that can never lose money. In fact, the funds hold portfolios of fixed-income assets that can default.
Money-Market Funds Face an Uncertain Future
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