​ Oddo(​h)! More French Faux-​Money Market Mutual Funds Go Terminal. Bloomberg and Reuters report that French brokerage Oddo & Cie, has closed its Oddo Cash Titrisation, Oddo Cash Arbitrages, and Oddo Court Terme Dynamique funds, which held over a 1 billion in euros, due to the meltdown in the subprime mortgage market and related CDOs. The funds, which are not money market funds, but which, unlike U.​S. funds, may use the term "​cash" in their name, will be liquidated in "​the shortest possible time frame". The Oddo funds join two AXA LIBOR-​Plus strategy funds (​see Crane'​s Friday News) as more offshore casualties of overly aggressive "​cash" investing. U.​S. money funds remain unharmed by events.

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