Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: sandeep who wrote (62359)	1/28/2001 1:19:07 AM
From: Mark Adams	of 436258

I'd complain, but even after the 20% increase due to higher NatGas costs for the local PUD, my per kwh rate is lower than that paid by CA users. So they do have a bitch, but that is another story. SEC Sees 'No Emergency' For Mutual Funds From Calif Woes "There is no emergency, because the amount of paper that's out there is very small," he said. By law, funds cannot concentrate investments in a single company or asset class, limiting the damage if a particular investment turns sour, he noted. In some cases, Roye said funds have taken steps to safeguard investors, by having the fund management buy the securities from shareholders, or arranging for letters of credit to protect investors from losses. Money-market mutual funds are especially sensitive to the issue, as they seek to preserve the fund's net asset value at $1 a share. Those that dip below that level are said to have "broken the buck." "So far we're not aware of any fund that's broken the buck" because of holdings in California utility debt, Roye commented. He declined to say whether any funds would have fallen below $1 a share if management hadn't taken steps to prevent that from occurring

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