Articles > Popular publications > PR Newswire press releases > January-March 2008 > Friday, March 7

Article: Legg Mason Announces Update of Money Market Fund Support.

Article from:
PR Newswire
Article date:
March 7, 2008
Copyright

BALTIMORE, March 7 /PRNewswire-FirstCall/ -- Legg Mason, Inc. announced that it has obtained a letter of credit from a large bank to provide support to a Structured Investment Vehicle (SIV) holding in a money market fund. The Company also provided an update of the combined impact on its anticipated quarterly earnings of this action as well as quarter-to-date accruals related to previously announced money market fund support.

Legg Mason is confident in the overall soundness of the funds and committed to satisfying its client objectives of principal stability, credit quality, and current income, although no guarantees can be given.

In the money market ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: Legg Mason Provides Money Market Fund ...
PR Newswire;  March 31, 2008 ;     700+ words ... ... previously announced money market fund support. "Legg Mason is putting the CSAs in ... previously announced money market fund support, including securities purchased from money market funds. About Legg Mason Legg Mason is a global ...

Article: Legg Mason Provides Money Market Fund ...
PR Newswire;  December 1, 2008 ;     700+ words ... ... FirstCall/ -- Legg Mason, Inc. today announced ... support for four money market funds with exposure ... conduits (SIVs). Legg Mason also announced ... commented: "Legg Mason continues to manage ... support of our money market funds during difficult ...

Article: Marland-based Legg Mason denies drop in ...
The Daily Record (Baltimore);  February 14, 2008 ;     284 words ...Legg Mason Inc., denying market speculation, said none of its money-market funds fell to less than $1 in net asset value. "None of the Legg Mason money-market funds have broken the buck at all ...

Article: Money Market Funds: Legg Mason to ...
The Bond Buyer;  February 15, 2006 ;     700+ words ...Legg Mason Inc. is seeking to dissolve three money market funds that no longer function ... for shuttering are the Legg Mason Cash Reserve Trust, with ... million in assets, and the Legg Mason U.S. Government Money Market Portfolio, with $28 ...

Article: Legg Mason Eliminates All SIVs From Money ...
PR Newswire;  March 5, 2009 ;     700+ words ... ... FirstCall/ -- Legg Mason, Inc. today ... SIVs) from its money market funds. The Company ... the Company's money market funds, $57 million ... balance sheet. Legg Mason Chairman and CEO ... announced today, our money market funds are now ...

Article: Firms prop up money-market funds; Legg ...
The Washington Times;  November 14, 2007 ;     700+ words ... ... said yesterday. Legg Mason, a Baltimore ... million into a money-market mutual fund and ... products for our money-market funds like bank ... spokeswoman for Legg Mason. Only about 5 percent of prime money-market mutual-fund ...

Article: Legg Mason view dims after bailout; Rescue of ...
Pensions & Investments;  July 7, 2008 ;     700+ words ... ... Appell BALTIMORE - Legg Mason Inc.'s latest ... support for its money market funds has prompted ... its outlook for Legg Mason debt to negative ... the company's money market funds might be ... industry overall, Legg Mason reported assets ... trends. The head of ...

Article: Credit reports aren't the whole story, manager says.(rating ...
The Bond Buyer;  June 23, 1995 ;     700+ words ...Money market fund managers must do ... portfolio manager at Legg Mason Inc. To satisfy the Securities ... regulations governing money market funds, she said, managers ... Speaking at this week's IBC Money Market Fund Forum '95 in New ...

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives