Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Two More Fund Firms Prop Up Money Funds Against OutFlows, Lehman Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 18, 2008

Two More Fund Firms Prop Up Money Funds Against OutFlows, Lehman

by: Neil Anderson, Managing Editor

This week continues to bear bad news for at least some money market funds. At least five more money funds received cash infusions from their parents Wednesday, as total money fund assets fell $89.2 billion in one day, according to iMoneyNet, from $3.44 trillion to $3.35 trillion. MarketWatch's Sam Mamudi reports that Bank of New York Mellon and Bank of America's Columbia Management put money into Columbia Cash Reserves, Dreyfus BASIC Money Market Fund Dreyfus Cash Management Plus, Dreyfus Liquid Assets and Dreyfus Worldwide Dollar Money Market Fund to compensate for their holdings in AIG and Lehman paper.

Money fund woes aren't restricted to Columbia and Dreyfus. Putnam shut down its Putnam Prime Money Market Fund Wednesday after heavy redemptions (see MFWire, September 18, 2008), and The Reserve froze its Primary Fund Tuesday after it broke the buck (MFWire, September 17, 2008). And Evergreen and Russell have already announced their own cash infusions into five of their money market funds (see MFWire, September 17, 2008). 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use