Scott Page, who manages floating rate funds for Eaton Vance, said that the funds were different from bond funds, which tend to have falling returns when interest rates rise.
But the fund industry has opposed it vigorously, arguing that floating value funds would be difficult to sell to consumers.
(See "Morgan Stanley Forked Out $23B To Float Funds") Earlier in the month, the beleaugered firm received a $9.0 billion investment from Mitsubishi UFJ Financial Group in exchange for a 21.0% stake.
This segment also markets fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, institutional investors, bank trust departments, and money market funds.
Boca Juniors raised $12m on the Argentine stockmarket by floating a fund that promised investors a cut from the future sale of certain named players.What is more, the players are going abroad at an ever younger age.
With so much money floating around, funding for the hottest startups those focused on communications equipment and Internet services–has become such a commodity that deep pockets are no longer enough to secure an investment with these companies.
We probably do need to float major funds into the financial sector -- but there needs to be a quid pro quo written in to the deal, a new social contract that does away with the "winner takes all syndrome" that has helped rot out America's economic promise.
Moreover, the revised proposal before the commission would only introduce a floating N.A.V. for funds held by corporations and institutional investors, but not consumers, which arguably does not go as far as the Financial Stability Oversight Council,, and certainly some outside observers, would like.
New low-cost carriers led by AirAsia, which is about to float to fund further expansion, pose a growing challenge to the region's network carriers.
The $3 billion that Jet.com has now sold for, in fact, was one valuation that the company was reportedly floating for a funding round it was trying to raise for the end of last year.
