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

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

Rating:Reserve Primary Payouts Accelerate Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 24, 2009

Reserve Primary Payouts Accelerate

News summary by MFWire's editors

The prolonged distribution saga of the Reserve Primary Fund continues. Daisy Maxey reports, in the Wall Street Journal's "Fund Track" column, that the fallen money fund's management plans to distribute $1 billion of the fund's remaining $4.5 billion in assets on Friday, October 2, even as a federal judge wants most of the money distributed by December 23.

For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.

Meanwhile, the "clawback" (taking money back from investors who got out just before the fund imploded) that Massachusetts' Secretary of State is fighting against is still up in the air. Sources told the WSJ that the judge "would order further briefs" on the matter within 10 days.

The Primary money market fund broke the buck a year ago and took down Reserve with it, thanks to some Lehman debt holdings. 

Edited by: Neil Anderson, Managing Editor


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
2020: Q1
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. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use