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Bear Stearns Files to Launch the First "Cash" ETF, Current Yield Fund. Bear Stearns Current Yield will be actively-managed with the symbol YYY. It emphasizes that it is not a money market fund and that it will not attempt to maintain a $1.00 a share price. But it's mandate is very money fund, seeking "as high a level of current income as is consistent with the preservation of capital and liquidity" The Wall Street Journal says of the new ETF, "The new fund would seek to fill the same role in investors' portfolios as a money market fund, but will aim to offer higher yields in exchange for risk to investors' principal."
