Reserve begins distribution for 12 funds

The Reserve Management Co. Inc. of New York has announced that it has begun distributions for 12 of its money market mutual funds and gave a distribution schedule for a host of others.
DEC 11, 2008
By  Bloomberg
The Reserve Management Co. Inc. of New York has announced that it has begun distributions for 12 of its money market mutual funds and gave a distribution schedule for a host of others. Distributions began this week for several municipal money market funds, including full payments for the Connecticut Municipal Money Market Fund, Michigan Municipal Money Market Fund, Minnesota Municipal Money Market Fund, Ohio Municipal Money Market Fund and Virginia Municipal Money Market Fund. In addition, partial distributions went out to investors in the New Jersey Municipal Money Market Fund, California Municipal Money Market Fund and Florida Municipal Money Market Fund. Upcoming distribution dates include: Dec. 15 for full payment for the New York Municipal Money Market Fund, Dec. 22 for a partial payment for the Yield Plus Fund, Jan. 5 for a partial payment of the U.S. Government Fund and Jan. 12 for a partial distribution for the Interstate Tax Exempt Fund. The total distributions represent $7.23 billion, with $886.5 million in remaining payments to be made. “One or more distributions may be delayed if we are unable to complete the necessary reconciliation process and if a fund’s plan of liquidation is not finalized,” the firm noted in a statement.

Latest News

Student debt has a chilling effect on employees' retirement planning, confirms research
Student debt has a chilling effect on employees' retirement planning, confirms research

A new study highlights how debt-saddled public and private workers are forced to focus on shorter-term investments and immediate financial concerns.

Decade of RIA M&A explosion shows no slowdown: Fidelity
Decade of RIA M&A explosion shows no slowdown: Fidelity

There's been an emergence of buyers, backed with PE dollars, making repeated acquisitions.

Spotlighting the Fastest-Growing Fee-Only RIAs in the USA
Spotlighting the Fastest-Growing Fee-Only RIAs in the USA

Discover which fee-only RIAs had standout performances in 2024

Advisor AI startup Zeplyn adds ex-LPL leader Kabir Sethi to board
Advisor AI startup Zeplyn adds ex-LPL leader Kabir Sethi to board

The two-decade veteran, whose career also includes a stint at Merill Lynch, will help shape strategy for the Google engineer-founded fintech.

Proactivity is key to client satisfaction, and it's lagging, survey says
Proactivity is key to client satisfaction, and it's lagging, survey says

A new Hearts & Wallets survey shows financial advisory clients want proactivity, but too often are not getting it.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.