MutualFundWire.​com reports that Scout will close its money market mutual funds. The SEC filing says, "Upon the recommendation of Scout Investment Advisors, Inc., the Scout Funds Board of Trustees has adopted a Plan of Liquidation to cease operations of the Scout Money Market Fund – Federal Portfolio, Scout Money Market Fund – Prime Portfolio and Scout Tax-​Free Money Market Fund and liquidate the Funds. While the Funds have served for many years as high quality money market fund investment options for clients and customers of the Advisor and UMB Financial Corporation, the Advisor has determined that it is no longer economically viable to continue operating the Funds in view of their size and future prospects for growth. The liquidation is expected to be completed in early 2011. The Advisor is working to provide shareholders who own Fund shares in connection with cash sweep and other special arrangements with opportunities to invest proceeds from their Fund share redemptions in other money fund investments. If you own shares through one of these arrangements, you may be contacted regarding replacement money fund investments." Crane Data'​s Money Fund Intelligence XLS shows Scout ranked 59th among 79 money fund managers with $​817 million in assets.

Your Name:
Your Email:
Recipient Email(s):

Use a comma or a semicolon to separate

Please retype symbols from the image:

Optional Message

Daily Link Archive