Tuesday, September 16, 2008

The Reserve Primary Fund (RFIXX) breaks the buck, hits TD Ameritrade Apex customers?

The Reserve Primary Fund (RFIXX) took a $785 million hit due to Lehman bankruptcy and is at 97 cents and redemptions are frozen.  I remember seeing this as an offering on TD Ameritrade's Apex as a cash management option.  Not sure, need to check.

I am glad that my money market funds are in firms large enough to subsidize it.  Wachovia (WB) is backing their Evergreen money market funds and so are other firms.

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