Coronavirus Pandemic Hastens the Demise of at-Risk Municipal Money Funds

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The pandemic is putting a nail in the coffin of the most vulnerable municipal money funds, taking away tax-free investment options from investors

In September, Vanguard Group told investors it would shutter New Jersey and Pennsylvania-focused funds. Bank of New York Mellon’s Dreyfus liquidated one state-specific fund last month and in August, Federated Hermes said it would wind four down in February.

 

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