{"id":8659,"date":"2008-09-19T00:00:00","date_gmt":"2008-09-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"putnam-shuts-15-billion-money-market-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/putnam-shuts-15-billion-money-market-fund.html","title":{"rendered":"Putnam shuts $15 billion money market fund"},"content":{"rendered":"<p>Reuters &#8211; U.S. asset manager Putnam Investments said on Thursday that it had closed its $15 billion (8 billion pound) Prime Money Market Fund due to redemption pressures.       <\/p>\n<p>Putnam, a unit of Canada&#8217;s Great-West Lifeco, said in a statement that the board of trustees of its funds had voted to close the institutional money market fund as it faced &quot;significant redemption pressure&quot; on September 17.<\/p>\n<p>&quot;The trustees&#8217; action was not related to the portfolio&#8217;s credit quality, but was instead a reaction to marketwide liquidity issues,&quot; the fund company said.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" border=\"0\" width=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/396975609\" \/><br \/>  <strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/396975609\/idUKCAS92585820080919\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; U.S. asset manager Putnam Investments said on Thursday that it had closed its $15 billion (8 billion pound) Prime Money Market Fund due to redemption pressures. Putnam, a unit of Canada&#8217;s Great-West Lifeco, said in a statement that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2754,2387,2755,2354,117,697,416,2753,941],"class_list":["post-8659","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-angle-view","tag-asset-management-corp","tag-bolitho","tag-fame","tag-investment-arm","tag-laurence-fink","tag-mutual-fund","tag-sun-bank","tag-traffic"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8659"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8659\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}