MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 1, 2008 Legg Mason to Pay Another $240 Million to Bolster its Money Funds Legg Mason has not yet finished the process of shoring up its money-market funds. The Baltimore Business Journal reports that Legg has agreed to pay up to $240 million into three subsidiary-managed money-market funds if they take losses on the sale of asset-backed commercial paper securities. The Baltimore company said it expects to take $155 million in charges against earnings as a result of the move. The new agreements deal with the same type of securities that the company had previously agreed to support in other money-market funds. Printed from: MFWire.com/story.asp?s=18690 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |