Investment Companies Received Permission to Prop Up Their Money Market Funds
It was surprising that The Reserves' money market fund, the Primary Fund, had "broken the buck" on September 16 and was worth less than $1 per share. However, it seems more amazing that many other money market funds have done the same over the past year with much less fanfare. The key difference was that The Reserves did not have the deep corporate pockets to shore up their own fund. Click here to read more.