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The $40 billion Reserve Primary Money Market Fund that broke the buck is liquidating and its investors are slowly getting their money back. To date, about 30% of invested money has been returned.

The timing of the disbursement of the remaining funds is unclear. It's also unclear how much of their investment will be returned.

For a supposedly liquid, cash investment this must be a nightmare to investors and has some similarities to the problems faced with auction rate securities.

 

Submitted: Oct 1, 2008    Views: 362    Comments: 1    Likes: 1   


View Article: http://www.bloomberg.com/apps/news?pid=20601213&sid=a1vTYCRC7ET8&re...


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Comments Received:

Sol Nasisi
Sol_Nasisi

Actually, the money hasn't been disbursed yet. According to the article, 30-40% will be disbursed on Oct 13. It's unclear when the rest of the disbursements will be made as well as the size of them.

Posted: Oct 1, 2008



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