When interest rates rise, the benefits go to those who manage cash, not the investors who hold it.
In the first quarter, the yield on three-month Treasury bills increased by 0.46 percentage points. The return on retail money market funds rose a meager 0.03 points – while their spending shot up 0.22 points.
https://www.wsj.com/articles/how-to-stop-your-fund-manager-from-feeding-on-your-cash-11650641286?mod=rss_markets_main How to stop your fund manager from feeding on your money
