The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Schroders to Liquidate Two Muni Bond Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 16, 2008

Schroders to Liquidate Two Muni Bond Funds

by: Armie Margaret Lee

Schroder Investment Management plans to liquidate the Schroder Municipal Bond Fund and the Schroder Short-Term Municipal Bond Fund. The funds were closed as of October 14.

"Recently, management of the Funds has become concerned that a large amount of redemptions in a short period of time could force the Funds to sell portfolio securities at unfavorable prices, to the disadvantage of all of the Fundsí shareholders," Schroder stated in an October 14 letter to the funds' shareholders.

The disruption of the municipal bond dealer markets, it added, "has made it difficult for the Funds to sell their portfolio holdings in an orderly fashion to meet redemption requests."

The liquidation will take place in phases, with the first capital distribution expected to occur on or about November 28.

The Schroder Municipal Bond Fund was down 12.6 percent and Schroder Short-Term Municipal Bond Fund was down 7.3 percent this year through October 14, according to Morningstar

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use