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The world’s biggest asset managers are lobbying for a last-minute reprieve from a European Union (EU) policy that could throw about 80 billion euros (US$94 billion) of money funds into turmoil.

BlackRock Inc., JPMorgan Chase & Co., and Goldman Sachs Group Inc. are among giants hoping to persuade EU authorities to preserve a key feature that investors have come to expect: the fixed share price. Public statements by regulators so far suggest that new rules that start on Jan. 21 will eliminate the ability of such funds to maintain the stable value, eroding the main appeal of such products.

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