Posted on 21/08/07
Mutual fund sector owes National Bank big time for intervention
The mutual fund industry and its customers can watch the mayhem in financial markets a little more comfortably now thanks to National Bank of Canada.If conditions in the markets get a lot worse, it may even turn out that National Bank saved the fund industry from a public relations disaster. That's how important the bank's move yesterday to protect clients of its money market funds was.
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