"Money-Market Funds Reassure Investors" Says WSJ

Oct 31 07

"Money-Market Funds Reassure Investors" Says WSJ. The article says, "Some advisory firms have taken action to buy back troubled securities that could have become unsuitable or, at worst, caused funds to 'break the buck,' or drop below the $1 share price they strive to maintain." It quotes Peter Crane, on "record inflows in the third quarter" and notes, "Assets in the funds are approaching $3 trillion." It also quotes Susan Wyderko of Mutual Fund Directors Forum, saying "she is aware of a number of money-market funds at which ... have taken action to moderate the impact of decreases in the value of the funds. In these cases, the advisers have purchased securities, taking the losses upon themselves."

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