How should Mutual Funds and Money Market Funds report prices using the new footnote codes?
For Mutual Funds: If the NAV for a fund exceeds $999.99, the MFQS user should break up the price and report the number of thousands as a footnote code. Example: For the NAV amount of $1,125.50, the pricing agent should enter $125.50 in the NAV field and “1” in the footnote field. For Money Market Funds: If the yield is negative, the MFQS user should enter the absolute value in the Seven Day Yield and Effective Annualized Seven Day Yield fields and enter “0” (zero) in the footnote field. The price-related footnote code may be reported in any of the available footnote spaces. For additional information, please refer to the MFQS Numeric Footnote Processing Guidelines document. NASDAQ OMX is working with the key market data vendors to ensure that the footnote codes are properly parsed and that the NAV and yield values are converted for proper investor display.
Related Questions
- Why does the report oppose requiring money market funds to "float" their share price, rather than allowing them to maintain a fixed NAV at $1.00?
- What does the Report say about the Treasury Guarantee Program for Money Market Funds? Will this program become permanent?
- How should Mutual Funds and Money Market Funds report prices using the new footnote codes?
