Later Trade Deadlines On 3 Fidelity Funds

Fidelity Investments has extended the trading deadlines on three of its institutional money market funds, a move that helps bank trust departments.

The Boston-based fund company moved the trading deadlines for government, domestic, and rated money market funds to 5 p.m. from 3 p.m. The deadlines went into effect Wednesday.

"That extra time really matters, as cash managers are often faced with large, unexpected cash swings late in the day," said Michael Mathison, vice president for institutional cash products.

Fidelity manages $87 billion in money market fund assets, and is the nation's largest mutual fund company, with $564.3 billion in assets under management.

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