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"Protecting the $1 NAV: Advisors Bail Out Funds" Writes November MFI. The November issue of our flagship Money Fund Intelligence discusses recent troubles within money market funds and describes fund advisors' actions to protect investors. No money market mutual funds have broken the buck, or fallen below the $1.00 a share level, nor are any likely to due to the August asset-backed commercial paper crisis and the October structured investment vehicle panic reprise. But a handful of advisors running a small number of funds with downgraded or defaulted securities have purchased and removed these securities from their money funds, and others have sought additional guarantees or protections. MFI writes, "We'd guess that perhaps 5 to 10 funds have purchased up to $10 billion in assets, and that more could be coming due to this week's continued SIV stresses. To request a copy of the full article and issue, write us at info@cranedata.us.
