) poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, according to a filing with the U.S. securities regulator.
Its support came as markets had another violently volatile week over concerns about the coronavirus pandemic, and represents an extraordinary move in the staid money-market fund industry. Industrywide, investors pulled tens of billions of dollars from prime money-market funds, which buy top-rated corporate debt. Although they are among the tamest investment vehicles, they can be riskier than portfolios that rely more on U.S. government bonds.
During that four-day stretch, investors made $6.84 billion in net withdrawals from the fund, Goldman disclosures show. If a prime fund’s weekly liquidity level falls below 30%, SEC rules give its board discretion to introduce redemption fees of up to 2% to slow down investor withdrawals. They can also put up gates for up to 10 business days.
Too little too late. I want EVERY stock dumper to be prosecuted, I want them ALL investigated.
Well at least they were using their own money?
Monday is going to be disastrous.... 1800 The planets are aligning.
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