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
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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
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