Wachovia Corp. said three money funds offered through its money management subsidiary Evergreen Investments did have exposure to Lehman Brothers, which filed for bankruptcy Monday. The funds are Evergreen Institutional Money Market Fund, with 1.94 percent of total assets held in Lehman debt as of the close on Friday, before Lehman's collapse; Evergreen Money Market Fund, with 1.66 percent; and Evergreen Prime Cash Management Fund, with 0.97 percent. Yesterday, the oldest money market mutual fund in the country said its $64 billion Reserve Primary Fund "broke the buck", i.e. traded below $1.00, because of Lehamn debt securities it held that...
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Wachovia Money Market Funds Have Exposure To Lehman Brothers Debt
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