Private Placement 3c-7 Funds Attracting Interest Says Business Finance. In a recent article, "Cash Diets, Nimble Companies" in Business Finance, a publication picked up at the Treasury Management Association of New England show last week, we found a mention of "enhanced cash" funds. The article says these 3c-7 funds are growing in popularily, normally limit liquidity to T+1, and yield 5-10 basis points over money funds, citing Christopher Martin of JPMorgan Chase Liquidity Products. "Cash-plus", "money fund-plus" or "enhanced cash" funds are offered by most large institutional cash managers, including: American Beacon, Barclays, BlackRock, Columbia, Evergreen, General Electric, Lehman, Morgan Stanley, The Reserve and Western. The Crane Enhanced Cash Index, which tracks these funds, returned 5.37% annualized for the month of March 2007 vs. 5.15% for the Crane Institutional Money Fund Index.

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