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, August 5, 2011 HighMark Mulls Options for One of its Funds Fundsters worried about the impact of federal debt woes and low interest rates may want to keep an eye on HighMark Funds [see profile]. On Wednesday the Union Bank subsidiary revealed that it is considering a number of strategic options, including liquidation or a merger, for its $588.74-million HighMark 100% U.S. Treasury Money Market Fund [see filing]. HighMark plans to make a decision before September 30. A spokeswoman for Union Bank declined to comment for this story. So what might HighMark do with this pure Treasurys money fund, in light of low interest rates? The filing specifically raises several possibilities, including: changing the fund's name and investment restrictions to allow it greater flexibility to invest outside of Treasuries; liquidating the fund; merging the fund with the $210.68-million HighMark Treasury Plus Money Market Fund or another HighMark fund; "exploring other options for the Fund," which could mean possibly selling the fund; or not changing a thing. Printed from: MFWire.com/story.asp?s=37503 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |