…check your email inbox. No catastrophic news - just a friendly FYI that might help you sleep better at night.Here’s the quick backstory: yesterday I blogged about a rare occurrence in the money-market world: The Reserve’s Primary Fund (RFIXX) “broke the buck” this week, meaning that investors holding these ordinarily very safe investments might not get the full cash value of their shares upon redemption.
That trend has spread today to a few other of The Reserve’s money-market funds – specifically the Reserve Yield Plus Fund, and Reserve International Liquidity Fund, Ltd. (Download The Reserve’s statement as a PDF.)
Reviewing our databases, we don’t see any TradeKing clients holding the affected money market funds. However, we do have a few hundred folks invested in other money markets from The Reserve, including The Interstate Tax-Exempt Fund and U.S. Treasury Funds. (Download prospectuses for either here.)
If it’d make you feel more secure, we invite you to contact us today and transfer your shares from these two funds into our FDIC-insured sweep account or into straight cash.
Again, there’s no pressure to do anything – this is just a friendly attempt to get ahead of a potential problem and give you one less thing to worry about. Let us know if you’d like us to help you with such a transfer, or if you have any questions we can help with. We’re standing by and glad to serve!
[image: The Reserve logo from their website]
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