Podcast Center
Video Center
Webcasts
Resource Center
Events
October 08, 2008 at 11:40 AM
Hartford Financial Services Group Inc. and Prudential Financial Inc. say their money market mutual funds will take part in the new guaranty program recently established by the U.S. Treasury.
The Treasury program will insure the holdings of any publicly offered money market mutual fund – either retail or institutional – that pays a fee to join the program.
Officials expect the program to last for 3 months and say they could continue it for up to a year.
The program will protect shareholders of eligible money market funds from a decline in value of up to the amounts held in their accounts as of the close of business Sept. 19, officials say.
