by Calculated Risk on 9/17/2008 01:52:00 PM

After The Reserve Primary Fund shocked investors yesterday by halting redemptions and "breaking the buck", other money market funds are releasing information to calm investors.

Charles Schwab posted a notice on their web site:

Schwab Money Market Funds Update

We want to reassure our Schwab clients that Schwab's Money Funds continue to maintain the $1 net asset value for your cash investments. Our first priority in managing these funds has been and will continue to be maintaining that $1 Net Asset Value.

In addition, we can confirm that Schwab Money Funds do not own any Lehman securities.

MarketWatch has more: Firms rush to keep money market investors calm

Three other money market fund companies have been identified as holding Lehman paper: Wachovia Corp. subsidiary Evergreen Investments, Northerwestern Mutual Life Insurance Co.'s Russell Investments and RiverSource Investments, the fund arm of Ameriprise Financial Inc.

All three said they will support their funds to maintain the $1 net asset value of the funds' shares.
...
Fidelity Investors, Vanguard Group and BlackRock Inc. had already stressed their money market funds didn't hold any Lehman paper.
...
"None of our U.S. money market portfolios has any exposure to Lehman, American International Group Inc. or Washington Mutual Inc.", said Invesco in statement released on Wednesday.

I'm sure WaMu enjoys being grouped with the dead and dying.