The Institutional Money Market Funds Association (IMMFA) is the principal trade association representing the European money market funds industry. Founded in 2000 and headquartered in London, IMMFA’s mission is to promote and support the development and integrity of the money market funds sector across Europe. IMMFA’s remit covers all fund types under Regulation (EU) 2017/1131, including both distributing and accumulating share classes.
IMMFA’s core objectives include ensuring that its members adhere to the highest standards of best practice, influencing policy makers and regulators on issues affecting money market funds, and educating investors by providing timely and relevant data on members’ funds. The association is committed to maintaining a set of Principles of Best Practice, which all members must follow, ensuring consistency, transparency, and investor protection within the industry.
IMMFA engages directly with EU institutions, including Members of the European Parliament, Commission staff, ESMA, and national competent authorities. Its activities include preparing position papers, responding to consultation papers, and distributing industry data to inform regulatory and legislative processes. IMMFA has played a notable role in shaping the regulatory landscape for money market funds, particularly during the development and implementation of the EU Money Market Fund Regulation.
The association’s membership primarily consists of asset managers, custodial banks, and related service providers. As of recent years, IMMFA represents over 30 members, with a significant portion of European institutional money market fund assets under management. IMMFA’s funds are predominantly domiciled in Ireland and Luxembourg, with a focus on stable Net Asset Value (NAV) funds, including Low Volatility NAV (LVNAV) and Public Debt Constant NAV (PDCNAV) structures.
IMMFA is recognized for its advocacy, industry leadership, and commitment to high standards, making it a central voice for the European money market fund community within the EU policy environmen
