2008-12-18 — cnbc.com
The funds being shut are the $6.9 billion Prime Portfolio, the $581 million Government Portfolio and the $574 million Cash Reserve Fund, filings by the funds on Dec. 15 to the Securities and Exchange Commission show.
The funds said in the filings the reason for the liquidations was that Credit Suisse Asset Management "intends to cease managing U.S. money market funds in the near future." The funds are expected to be liquidated in early 2009 and will be closed to new investors from Dec.22, the filings said.
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