"Treasury money funds are turning down new cash from investors" says Investment News. In yet another article on "soft closings" of Treasury money market funds, IN writes, "Among the companies that have recently stopped accepting money from new investors into their Treasury funds are Charles Schwab & Co. Inc. of San Francisco, Fidelity Investments of Boston, The Goldman Sachs Group Inc. of New York, and The Vanguard Group Inc. of Malvern, Pa." The piece adds, "Not everyone is so pessimistic." It quotes `Peter Crane, president of Crane Data LLC of Westborough, Mass. "A mutual fund company would be out of its mind to liquidate the only class that has gained money in the past year, even if they are losing money on it." Also, see Financial Week "Cash keeps pouring into money funds".
