Bank of America: Closing Funds But Not Freezing Redemptions

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A quick follow-up to this morning's story about the Columbia asset management fund. It is saying that it is closing its enhanced, private-placement money-market fund but that investors are being offered the option of cash redemptions or of switching their assets into other Columbia-managed funds. Because what are the odds that two funds would go down at the same place?
Bank of America says closing money market fund [Reuters]

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