...The AUM of Taiwanese MMFs has remained largely depressed relative to the historical average, but has been broadly stable over the last four years Low-rate environment has depressed average Taiwanese MMF yields Taiwanese MMFs have shortened portfolio duration amid a low-rate environment Fitch does not consider seasonal changes in AUM to be credit negative unless funds suffer from clear credit deterioration as a result of meeting redemption demands Increased allocation to low-rated assets in response to compressed credit spread...