Reich & Tang, which announced the liquidation of its U.S. money market funds earlier this month, is also liquidating its offshore Daily Dollar International MMFs, according to a statement on its website. It says, "Liquidation of the Daily Dollar International, Ltd. This Supplement replaces the Supplement dated March 12, 2015.... The Board of Directors (the "Board") of Daily Dollar International, Ltd. (the "Fund") has determined that it is advisable to liquidate, dissolve and terminate the legal existence of the Fund. In connection with the liquidation of the Fund, effective May 1, 2015, the Fund will cease sales of portfolio shares to new investors. The Fund will permit current investors to continue purchasing new shares. The Fund is expected to be closed on or about July 27, 2015 (the "Liquidation Date") and commence formal liquidation proceedings thereafter. The Board has directed Reich & Tang Asset Management, LLC ("RTAM"), the Fund's investment adviser, to manage the Fund conservatively in anticipation of liquidation and with the goal of returning $1.00 per share to each investor in the Fund. Accordingly, the Fund's yield and performance may be reduced prior to the Liquidation Date." According to Money Fund Intelligence International, the portfolios had about USD $1.7 billion in assets with most of the shares, USD $843 million in the Retail class. Earlier in March, Reich & Tang announced that it was liquidating its US-based money funds, which had about $10.9 billion in assets. (See our March 17 "News," "Federated In Talks with Reich & Tang Over MMF Assets." In other offshore MMF news, Moody's withdrew the Aaa-mf money market fund rating of Aberdeen EUR Liquidity Fund. The release says, "Moody's Investors Service has today withdrawn the Aaa-mf money market fund rating of Aberdeen Global Liquidity Funds PLC-Aberdeen Euro Liquidity Fund. The Fund is managed by Aberdeen Asset Investments Limited. Moody's has withdrawn the rating for its own business reasons." The fund has E615 million in assets under management as of March 30, according to Crane's MFII.

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