Business Services Industry
Reich & Tang to Participate in U.S. Treasury Department's Temporary Guarantee Program for Money Market Funds
Business Wire, Oct 3, 2008
NEW YORK -- On October 2, 2008, the Boards of Directors and Trustees of all U.S.-registered money market funds advised by Reich & Tang Asset Management, LLC approved the participation of those funds in the U.S. Treasury Department's Temporary Guarantee Program for Money Market Funds ("Guarantee Program").
"The Guarantee Program is a timely and direct response to our troubled markets, providing stability at a time when investor confidence has been eroded," stated Michael P. Lydon, President and CEO of Reich & Tang Funds.
The Guarantee Program guarantees shareholders that they will receive $1.00 for each money market fund share held at the close of business on September 19, 2008.
For additional information about the Treasury Department's Temporary Guarantee Program for Money Market Funds, please visit our website at www.rntfunds.com.
About Reich & Tang Funds
Reich & Tang Funds is a division of Reich & Tang Asset Management, LLC, an SEC registered investment adviser established in 1974. Reich & Tang Funds offers money market fund and cash management solutions to institutional clients and financial intermediaries. The firm's investment philosophy is focused on safety and preservation of capital.
Reich & Tang Asset Management, LLC is part of Natixis Global Asset Management, which is one of the world's largest money management organizations. Natixis Global Asset Management brings together the expertise of multiple specialized investment managers based in the United States, Europe and Asia to offer a wide spectrum of equity, fixed income and alternative investment strategies.
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