Intrepid Money Market Fund Managers Backing Up Truck on ABCP Issues. In what one investor described as a "time for deep value", a number of money fund managers and large investors are taking advantage of some almost 6% yields available in the asset-backed commercial paper market. "We're comfortable with some of the ABCP issues out there and we are taking advantage. We're gunning up," said one investment manager. Many funds will only buy ABCP programs backed by big banks. Though many of course continue to worry about investor concerns and "headline risk", the still-huge ABCP yield premiums are just too tempting for some. Most are understandably shy about going on the record at this point, but we will name names and tell who's buying in the upcoming September issue of Money Fund Intelligence.

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