MutualFundWire.com: The Reserve Completes Distribution for Six Funds
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Wednesday, December 3, 2008
The Reserve Completes Distribution for Six Funds
The Reserve has returned assets to investors in six of its funds, including Primary II. The five others are U.S. Government II, Massachusetts Municipal Money-Market Fund, Louisiana Municipal Money-Market Fund, Reserve USD International Government Fund and Pennsylvania Municipal Money-Market Fund.
For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.
The Wall Street Journal's Daisy Maxey picked up the December 1 announcements (see press releases below) in
Wednesday's Fund Track column. The other half of the column, penned by Kerry Grace, covered remarks made by Pimco's Bill Gross on stocks. In Gross' view, stocks are not cheap when seen in relation to where the market is heading, with more regulation and higher taxes.
Reserve Press Release
New York, December 1, 2008 - The Reserve announces that the following funds have been completely liquidated and all net assets have been returned to investors:
PRIMARY II FUND
U.S. GOVERNMENT II FUND
of the Reserve Fund
MASSACHUSETTS MUNICIPAL MONEY-MARKET FUND
of the Reserve Municipal Money-Market Trust II
LOUISIANA MUNICIPAL MONEY-MARKET FUND
of the Reserve Municipal Money-Market Trust
RESERVE USD INTERNATIONAL GOVERNMENT FUND LTD.
All investors in these funds were notified of the liquidation prior to the distribution of assets. Investors
received a net asset value of $1.00 a share, which included principal plus accrued interest minus fund
expenses.
The Boards of these funds had previously voted to liquidate these funds. None of these funds were
subject to SEC rule 22(e) and thus were not required to file a Plan of Liquidation with the Securities and
Exchange Commission prior to distribution.
We will keep you informed of developments to The Reserve’s funds as they occur through updates
posted on our website at TheR.com.
Reserve Press Release
New York, December 1, 2008 – The Reserve is pleased to announce that the Plan of Liquidation for the Reserve Pennsylvania Municipal Money-Market Fund has been finalized with the Securities and Exchange Commission and all assets have been returned to investors.
Under the Plan of Liquidation, the distribution includes the Fund’s net assets and any accrued income,
less Fund expenses. Investors received $1.00 per share with 1,800,734 shares outstanding.
"We are pleased to be able to return the Fund’s money to investors," said Bruce R. Bent, president of
Reserve Management Company, Inc., the Fund’s adviser. "I want to thank our investors for their patience
and understanding during these past few months."
Updates to all of The Reserve’s funds can be found on our website at www.TheR.com.
Printed from: MFWire.com/story.asp?s=20043
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