Getting your player ready...
BOSTON — The firm managing a money-market mutual fund that “broke the buck” and threatened the stability of the $3 trillion money- fund industry now plans to return cash to investors — a pledge that remains elusive for shareholders who can’t access money in another troubled fund run by the same firm.
Reserve Management Corp. is liquidating its Primary Fund, where assets fell in value two weeks ago to 97 cents for each investor dollar put in. The New York-based firm said Monday night it expects to distribute cash on or about Oct. 13 to shareholders.
