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Old 05-08-2009, 05:11 AM
 
12,869 posts, read 13,994,410 times
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401(k)s Hit by Withdrawal Freezes - WSJ.com

this is just one fund's loss:
As of April 28, redemption requests that had yet to be honored totaled nearly $1.1 billion, or roughly 26% of the fund's net assets. Principal doesn't anticipate that it will make any distributions to investors who have requested redemptions until late 2009 or beyond, Ms. Hale said. Meanwhile, the fund continues to fall, declining 25% in the 12 months ending April 30.

this is an outrage!

Last edited by floridasandy; 05-08-2009 at 05:51 AM..
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Old 05-14-2009, 08:47 PM
 
Location: San Diego California
6,797 posts, read 6,793,322 times
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Quote:
Originally Posted by floridasandy View Post
401(k)s Hit by Withdrawal Freezes - WSJ.com

this is just one fund's loss:
As of April 28, redemption requests that had yet to be honored totaled nearly $1.1 billion, or roughly 26% of the fund's net assets. Principal doesn't anticipate that it will make any distributions to investors who have requested redemptions until late 2009 or beyond, Ms. Hale said. Meanwhile, the fund continues to fall, declining 25% in the 12 months ending April 30.

this is an outrage!
Relax, the Government will just bail out the Mutual Funds along with everything else. Hey the taxpayers will foot the bill, no problem... at least until the bill comes due.
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