In a split vote, the SEC adopted sweeping reforms to Rule 2a-7 which governs the operation of money market funds. Many funds that were previously considered retail due to their lower investment minimums will now be called institutional and fall under the new regulations. No immediate changes need to occur and we will proceed with
John McColley, Portfolio Manager, Liquidity Strategies
John McColley is a Portfolio Manager for Liquidity Strategies portfolios at Columbia Management Investment Advisers, LLC and part of the Short Duration & Stable Value team. Mr. McColley is responsible for the management of cash and money market funds. He joined the firm as a trader in 1985 and has been in the investment industry since 1982. Prior to joining the Fixed Income team as a portfolio manager in 2002, he was a fixed income trader from 1994 to 2001 and prior to that a trading specialist for institutional equity from 1985 to 1993. Mr. McColley earned a B.S. in Business Administration from the Carlson School of Management at the University of Minnesota.