Managers uncertain on money markets outlook

"Of 11 funds rated by S&P, nine were able to preserve cash in 2007," said analyst Irina Schoenberg, highlighting the Commerzbank Money Market Fund Euro as the best performer. In the three months to the end of January, the fund was up 1.1pc, ahead of the 0.8pc sector median, thanks to its exposure to short-term fixed income European commercial paper. Although the fund saw some outflows in 2007, it was up from €733m to €822m in the year to the end of February 2008. In contrast, the laggard was the Deka-Euroflex Plus fund, which invests entirely in structured products and ABS money marke...