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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (96832)	12/10/2007 12:34:00 PM
From: Qualified Opinion	Respond to of 306849

Bank of America says closing money market fund Monday December 10, 11:59 am ET NEW YORK (Reuters) - Bank of America Corp's (NYSE:BAC - News) Columbia asset management unit said on Monday it is closing a privately placed money-market fund for institutional investors. The bank's Columbia Strategic Cash Portfolio fund, which has less than $11 billion in assets, has been closed to new investors, said Columbia spokesman Jon Goldstein. Goldstein denied a CNBC report that the fund had been frozen, saying that clients were being offered the option of cash redemptions or of switching their assets into other Columbia-managed funds. (Reporting by Christian Plumb and Joseph Giannone; Editing by Tim Dobbyn) Link: biz.yahoo.com