"Pick Money Funds That Don't Need Insuring"
"Pick Money Funds That Don't Need Insuring" says Bloomberg's Jane Bryant Quinn in her latest column. "Most of the large money funds that cater to individuals already insure you against loss, using their own resources. Now they'll have to decide whether they want to pay for a layer of government protection, too. If they do, they could either absorb that extra cost or pass it along to investors in the form of slightly reduced returns." Sh adds, "What saved these funds is that they're sponsored by large, diversified financial services companies, says Peter Crane, publisher of Money Fund Intelligence, which covers the industry. The sponsors bought the bad paper out of their funds, making investors whole. Maintaining their money funds at $1 a share isn't optional." In other news, see "Ameriprise Financial Supports Clients Holding Investments in The Reserve's Primary Fund."
