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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: sammaster who wrote (182420)7/23/2002 2:16:40 PM
From: Knighty Tin  Read Replies (1) of 436258
 
samm, it's the same as stock settlement. They have 3 business days. So, they would have to raise cash at the same time they receive the redemption if they do not have cash in the portfolio. The fund accountants usually walk in and tell you 5 minutes before the market closes so you have plenty of time to sell without impacting prices. <VBG> Actually, my guys were pretty good about that, though I never had a day where redemptions were larger than new purchases.
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