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Article: There's no need to bail out of taxable money funds.(Business)
- Article from:
- The Boston Herald
- Article date:
- September 2, 2007
- Author:
CopyrightCOPYRIGHT 2007 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Chuck Jaffe
One person's "flight to safety" is another person's "panic," but no matter what you call it, many investors are making an unnecessary trip in that direction with their money-market mutual funds.
Market concerns are behind the flight to quality that has pushed assets in money market funds to a record $ 2.72 trillion. But if you have been thinking that you might join in that journey and change your money-market fund to gain additional safety, think again; the journey isn't only unnecessary, but you're already too late.
That hasn't stopped investors from making changes, and is undoubtedly why tax-free funds added nearly $4.4 ...