MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, October 16, 2008 China Fund Seeks to Retrieve $5 Billion from Primary Fund China Investment Corp. expects to get back the $5 billion it invested in The Reserve's Primary Fund, Rick Carew reports in Thursday's Wall Street Journal Fund Track. China's sovereign-wealth fund said it requested the withdrawal shortly before the the fund froze redemptions on September 16. CIC said it has obtained confirmation from the fund that it will give back CIC's "full capital and interest." For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline. The Reserve, for its part, said CIC will not receive any funds before other investors and the price per share will be determined by the final plan of liquidation. CIC held 11 percent of Primary Fund's institutional-class shares through a subsidiary as of September 1. Printed from: MFWire.com/story.asp?s=19655 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |