reserve primary fund

reserve primary fund reserve funds

reserve primary fund reserve primary fund reserve funds Money market fund 'breaks the buck' on Lehman IOUs reserve primary fund reserve fund. Money & Co reserve primary fund money market fund. blog: New York-based Reserve Primary Fund's share price falls to 97 cents from $1, in a blow to money funds' image. Big money market fund freezes withdrawals reserve primary fund money market fund. Savers to get 97 cents on the do read

A money market fund--and not just any money market fund--breaks the buck

The Reserve, the company that invented money market funds, just announced that its $62 billion Primary Fund is going to break the buck--that is, be valued at less than the usual $1 a share. The reason: Lehman's bankruptcy. To quote the Dow Jones newswire story: New York money manager the Reserve said Tuesday that its Primary Fund is valuing its debt securities issued by Lehman, which have a face value of $785 million, at zero effective at 4 p.m. EDT Tuesday. As a result, the net asset value of t read

Reserve Primary Fund drops below $1 a share amid Lehman fall

Reserve Primary Fund drops below $1 a share amid Lehman fall September 17th, 2008 NEW YORK (Reuters) - Reserve Primary Fund, a money-market mutual fund whose assets have tumbled 65 percent in recent weeks, fell below $1 a share in net asset value, because of its losses on debt issued by Lehman Brothers Holdings Inc. (LEH.N: Quote, Profile, Research, Stock Buzz). In the industry, money funds whose net assets drop below $1 a share are said to have “broken the buck”. The Reserve Primary Fund ha read

The Money Market that busted $1

Not a good sign of the things to come….Reserve Funds busted the $1 money market fund barrier Sept. 16 (Bloomberg) — Reserve Primary Fund, a money-market mutual fund with $64.8 billion in assets as of Aug. 31, fell below $1 a share in net asset value because of losses on debt issued by Lehman Brothers Holdings [...] read

Money market giant freezes redemptions

Money market giant freezes redemptions September 16th, 2008 NEW YORK (MarketWatch) — One of the first and largest money market funds has put a seven-day freeze on redemptions after the net asset value of its shares fell below $1. Primary Fund , a $62 billion fund managed by money market fund inventor The Reserve, said Tuesday afternoon that its $785 million holding of Lehman Brothers Holdings debt has been valued at zero. As of 4 p.m., the value of the fund’s share is 97 cents. The Reserve s read