Wall Street Journal writes "How Turmoil Melted a Money Fund"

Dec 29 07

The Wall Street Journal writes "How Turmoil Melted a Money Fund", which discusses how Credit Suisse Prime Institutional Money Market Fund Prime grew from $1 billion to $25 billion and back down to $10 billion. The piece says, "While money funds at several U.S. banks have been hit with similar losses, the Credit Suisse fund has suffered the most dramatic investor outflows. One reason: Other funds had more-stable investor bases anchored by longtime individual customers." It quotes our Peter Crane, "Credit Suisse was the only money-fund family to see significant outflows during the recent turmoil."

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