Intelligence Interview: Marc Pfeffer and Milestone Treasury Obligations. The January 2008 issue of Money Fund Intelligence contains an interview with Milestone Capital Management's Chief Investment Officer and Portfolio Manager Marc Pfeffer. This month's MFI "fund profile" focuses on Milestone Treasury Obligations and the flight to Treasury funds during the recent credit squeeze. Below, we excerpt a couple of the highlights. Pfeffer tells MFI, "Before this whole credit crunch, Treasury funds would under-yield prime funds by between 5 and 10 basis points.... Now, you have spreads of 50-100 basis points between Treasury funds and prime funds. People don't care about yield anymore, they just care about the safety." On Milestone's status as a women-owned firm, Pfeffer says, "It's a nice door opener. But at the end of the day, even if we receive some money because there is a woman- or minority-owned initiative at a firm, if we didn't service our clients and didn't perform well for them we wouldn't keep that money."

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