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To: IceShark who wrote (8655)	10/15/1998 6:30:00 AM
From: Joseph G.	Respond to of 86076

I can believe $150, but I can't belive the Bozo guy is beautiful. -g- <<NEW YORK, Oct 15 (Reuters) - More large mutual fund companies are preparing for a possible surge in investor selling that puts funds under pressure to sell their holdings in down markets to pay off investors, the Wall Street Journal reported Thursday. More fund families are seeking permission from the Securities and Exchange Commission to allow funds within a family to lend money to each other to cover redemptions, the Journal said. T. Rowe Price Associates (Nasdaq:TROW - news) has applied to the SEC for such permission, the report said. And Franklin Resources (NYSE:BEN - news) is considering following suit, the report added. Only four fund families currently have that permission, the report said. Industry leader Fidelity Investments was the first to have such permission, obtained in 1990, the report said. Janus, Stein Roe, and Vanguard now also have the ability but have yet to make an interfund loan, the companies told the Journal. The SEC imposes strict limits on interfund loans, including: a time limit, loans can't exceed 25 percent of assets, the lending fund can loan no more than 5 percent of assets, and above market rates must be imposed, the report said. The Investment Company Institute estimates fund cash levels averaged 6 percent to total assets through August, the report said.>>