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The Safety of Money Market Funds

Wednesday, September 17, 2008

Money market mutual funds are the topic of discussion as the Reserve Primary Fund valued its share price below $1.00. Are money market funds still as safe as cash? Washington Correspondent Stephanie Dhue has the details.

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External Links/Articles*

  • Crane Data
    Crane Data "collects and distributes money market and mutual fund news, information. and data." Crane data is a great tool for deciding what services are right for you. Stephanie Dhue uses Crane Data as a source in her report.
  • Morningstar
    Morningstar.com is "a trusted and reliable source that meets the needs of a variety of investors - from those who are looking for a daily destination to track market development and manage investments to those who need a source for research, insight, and education." Morningstar's Managing Director, Don Phillips is interviewed in Stephanie Dhue's report.
  • Securities & Exchange Commission (SEC)
    The SEC "protects investors, maintain fair, orderly, and efficient markets, and facilitate capital formation." This links to the webpage that explains what money market funds are.
  • The Reserve Fund (PDF)
    The Reserve Fund is "a leading cash management provider for institutions, banks, brokers, advisors and individual investors." This links to the press release dated September 16th where it states "The value of the debt securities issued by Lehman Brothers Holdings, Inc. (face value $785 million) and held by the Primary Fund has been valued at zero effective as of 4:00PM New York time today. As a result, the NAV of the Primary Fund, effective as of 4:00PM, is $0.97 per share. All redemption requests received prior to 3:00PM today will be redeemed at a net asset value of $1.00 per share."

    • *Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.
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