September 27, 1994
TO: BOARD OF GOVERNORS NO. 97-94
MARKETING POLICY COMMITTEE NO. 43-94
MONEY MARKET FUNDS AD HOC COMMITTEE NO. 18-94
MONEY MARKET MEMBERS - ONE PER COMPLEX NO. 10-94
RE: Money Fund Problem
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This is to alert you that a small institutional money market fund
has decided to liquidate its holdings to its shareholders for less
than $1.00 per share. The fund is based in Denver, and is not a
member of the Institute. A copy of the statement that we are using
in response to news media queries is attached, as well as the
fund's notification as sent to its shareholders.