Sep 17 2008
Reserve’s Primary Fund To Be Valued Below $1/Share
A money-market fund – the Reserve’s Primary Fund – has broken the buck, as a result of Lehman Brothers Holdings Inc.’s (LEH) bankruptcy filing, the first time since 1994 that a money-market fund’s net asset value has dipped below the $1-a-share level.
New York money manager the Reserve said Tuesday that its Primary Fund is valuing [...]
