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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (115875)	9/20/2008 3:05:54 PM
From: vegetarian	Read Replies (1) of 132070

Will appreciate your opinion on this: one of the MM funds sent this to investors: "...RPFXX will no longer be accepting new contributions....Reserve Primary Fund is also imposing a delay of up to seven calendar days on exchange requests out of the fund. The fund incurred losses related to debt securities it held issued by Lehman Brothers Holdings. As such, the Board of Trustees of The Reserve Fund is taking these actions in an effort to stabilize the fund." Is the investor in this MM fund better of making a transfer out right away (note that it does not let transfer happen for 7 days supposedly needed for stabilizing what ever that means) or waiting it out until their NAV is known etc? Will the investors who pull out earlier get a better value or it would not matter much if the value of the fund stabilizes in whatever way? would people pulling out of this MM fund erode its value more or now that Lehman has happened it would not change much? Would greatly appreciate if you could lay out likely scenarios you see and possible pros and cons of pulling out vs staying on...Thanks

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