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Article: Money Funds Face Derivative Woes
- Article from:
- Chicago Sun-Times
- Article date:
- August 2, 1994
- Author:
CopyrightCopyright 1994 Chicago Sun-Times. (Hide copyright information)
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The problems apparently are not over for money market mutual
funds that invested in so-called derivative securities, and at least
one affected fund may be searching among its peers for a bailout.
Sources at the Investment Company Institute, the
Washington-based trade group for mutual funds, say several money
funds have contacted the ICI since July 1 asking for advice on how to
handle their problems.
In addition, one money fund asked for suggestions on others that
might be interested in acquiring it, an ICI official said.
The possibility - some fund experts say probability - of a new
round of losses in supposedly safe money market funds may come as a
shock to the public, industry ...