From ACT Wiki
Abbreviation for money market fund.
A suffix added to a credit rating to indicate that it relates to a money market fund.
Risk profiles of funds matter
- "From a fund-rating perspective, the overall structure is not the key rating driver for Fitch, rather it's the risk profile of the fund that matters.
- Conceptually, we can rate CNAVs, LVNAVs and VNAVs at the AAAmmf rating level.
- The new rules will not change our approach to rating MMFs and therefore should not directly affect ratings unless funds' underlying credit, market or liquidity risks increase."
- Alastair Sewell CFA, EMEA head of fund and asset manager ratings, Fitch Ratings, The Treasurer, August 2018, p31.