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Goldman injects billion into own money-market funds after heavy withdrawals, Reuters says
By Tim McLaughlin
Reuters
Saturday, March 21, 2020
Goldman Sachs Group Inc. poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, according to a filing with the U.S. securities regulator.
The Wall Street bank purchased $722.4 million in assets from its Goldman Sachs Financial Square Money Market Fund and $301.2 million from its Goldman Sachs Fund Square Prime Obligations Fund.
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Its support came as markets had another violently volatile week over concerns about the coronavirus pandemic, and represents an extraordinary move in the staid money-market fund industry.
Goldman, which disclosed the moves Friday in a filing with the U.S. Securities and Exchange Commission, did not have an immediate comment.
The bank repurchased securities from its two funds on Thursday after investors withdrew a net $8.1 billion from them during a four-day stretch, according to the disclosure. ...
... For the remainder of the report:
https://www.reuters.com/article/us-health-coronavirus-goldman-mny-mkt-ex...
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