News & Events

Corporate Partner Rajib Chanda was quoted in a Board IQ article titled, “Birdthistle Discusses Merits of Swing Pricing for Money Market Funds.” The article highlighted how industry experts have interpreted SEC Division of Investment Management director William Birdthistle’s discussion of how swing pricing for money market funds can be an alternative to fees and gates as an indication of future SEC guidance. Rajib noted how, particularly with institutional prime funds, the ability of a fund to offer redemptions in kind is a way to address a liquidity event, returning underlying assets to investors on a pro-rata basis. He added that “Making it easier to receive redemptions in kind would be easier.” He further explained that ring fencing is more prevalent in Europe and is similar in practice to redeeming in kind and is far more precise than swing pricing.

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