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 |
|
Thursday, July 24, 2008 SSgA Alters Redemption Rules for its Money Market Fund State Street Global Advisors has changed the redemption rules on its Prime Money Market Fund. SSgA spokeswoman Arlene Roberts said that the revision gives shareholders "greater flexibility and security that they will get their money even faster." Prior to the amendment, the fund could postpone the payment of redemptions for up to seven days or if one of the specified emergency conditions takes place. Now, Roberts explained, the fund is obligated to make redemption payments on the next business day unless one of the three listed emergency conditions occur. Printed from: MFWire.com/story.asp?s=18889 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |