Reserve Posted a Notice on Fund Distributions from its Government and Primary Funds Thursday. The company says, "We will be distributing $20 billion out of the Primary Fund on or about October 13, 2008. That distribution is about 32% of the assets as of the opening of business on September 15, 2008." The notice asks, "Will investors who redeemed after the Fund 'broke the buck' be treated differently than those whose redemption orders were received before the fund 'broke the buck?' We can't answer this yet. We are working with the SEC to develop a plan of liquidation that will be fair to all shareholders. As soon as it available we will post it on `our website." The Reserve has also begun posting daily holdings of the funds on its website. Other news stories of note: Bloomberg's "Reserve Management Will Liquidate Its Government Fund"," "Commonfund Restricts Withdrawals From a Second Fund," and "Reserve Primary Sued by Univision Over Lehman 'Tip'."
