The Putnam Prime Money Market Fund did not post a loss or “break the buck,” nor did its closure and distribution of all fund assets have any impact on retail investors as this fund is solely owned by institutional investors with a minimum initial investment of $10-million. Actions to unwind the fund by Putnam’s Board of Trustees was done to treat all fund shareholders equitably in the face of significant redemption pressures and was not related to the credit quality of the portfolio. Incorrect information appeared in yesterday’s edition of the Financial Post.
A story yesterday on the Toronto Maple Leafs roster this season incorrectly credited Moses — rather than God– with writing the 10 commandments. Link to both
