The average return generated by money market funds (MMFs), net of fees, has fallen to 9.3 percent as of October 15 from a higher 9.9 percent at the same time last year, mirroring lower interest rates generated by schemes' underlying assets.
Domestic interest rates including returns from Treasury bills and commercial banks fixed deposits have dropped further this year, reducing the return possible from MMFs which primarily invest in the cash and near cash assets.
