When the Prime Reserve Fund in the United States fell below its par value due to Lehman Brothers' collapse last September, the world's fund industry broke into a cold sweat.
It was after all a money market fund, which by definition is expected to be stable and almost never falls below its par value.
While news of the Prime Reserve Fund made headlines for days and turned out to be symptomatic of the crisis befalling the global economy, here in the region, we have had our own money market drama, with far less coverage.
No comments:
Post a Comment