{"id":4645,"date":"2008-08-11T17:16:47","date_gmt":"2008-08-11T17:16:47","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/08\/mutual_funds_misrepresented_as_1"},"modified":"2021-09-20T15:40:56","modified_gmt":"2021-09-20T20:40:56","slug":"mutual-funds-misrepresented-as-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/mutual-funds-misrepresented-as-1\/","title":{"rendered":"Mutual Funds Misrepresented as Safe: SSgA Yield Plus, Fidelity Ultra-Short Bond (FUSFX) & Regions Morgan Keegan Select High Income (MKHIX)"},"content":{"rendered":"

\t\t\t\tJust as auction rate securities were sold by most investment firms as safe alternatives to money market funds which paid a higher rate, so also were a number of mutual funds. Packaged and sold as ultra-short term bond funds and a safe haven for funds which were to be secure and assessable, many of these funds were really invested into high-risk and or potentially far from liquid assets. <\/p>\n

Three of these funds are the SSgA Yield Plus fund, which was liquidated in June, the Fidelity Ultra-Short Bond (symbol: FUSFX), and Regions Morgan Keegan Select High Income (symbol MKHIX). All three, it has been learned, were actually actually “junk bond” funds. As problems in the credit markets surfaced over the past year, these funds have lost up to 80% of their value <\/p>\n

The portfolios of these funds had structured debt instruments tied to subprime mortgages and other assets that do not trade frequently. This prevented the volatility of the assets from being properly reflected, consequently masking the risks of investing into the funds. The recent changes in the values have greatly altered the risk parameters, but too late for those invested in the funds who have sustained significant losses. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Just as auction rate securities were sold by most investment firms as safe alternatives to money market funds which paid a higher rate, so also were a number of mutual funds. Packaged and sold as ultra-short term bond funds and a safe haven for funds which were to be secure and assessable, many of these […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3799],"tags":[],"class_list":["post-4645","post","type-post","status-publish","format-standard","hentry","category-mutual-funds"],"yoast_head":"\nMutual Funds Misrepresented as Safe: SSgA Yield Plus, Fidelity Ultra-Short Bond (FUSFX) & Regions Morgan Keegan Select High Income (MKHIX) — Investor Lawyers Blog — August 11, 2008<\/title>\n<meta name=\"description\" content=\"Just as auction rate securities were sold by most investment firms as safe alternatives to money market funds which paid a higher rate, so also were a — August 11, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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