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 |
|
Friday, February 23, 2001 February 23, 2001 Scudder Bails Out CA Utilities from Brill.com Originally reported in USA Today, Scudder Kemper Investments has tossed $6 million at a security issued by a California utility security in order to salvage a money market fund. While the move is both rare and radical, Peter Crane, editor of the Money Fund Report, reassured that similar investments don't endanger other funds. Bruce Bent, president of Reserve Funds and inventor of the money fund, is quoted as disapproving of the move, which inclines such funds too much towards risky investment. Printed from: MFWire.com/story.asp?s=26454 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |