Commonfund Restricts Investor Withdrawals In Two Funds
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- Investigating Commonfund
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- Short Term Investments Fund
- Intermediate Term Fund
Overview
Commonfund Restricts Investor Withdrawals In Two Funds
The credit crisis has hit home for a number of higher education institutions after learning Connecticut-based investment advisor Commonfund is now limiting investor withdrawals in a second fund regularly used by about 200 colleges and universities to pay for long-term campus expenditures. Until credit market conditions improve, Commonfund says institutions will only be allowed to withdraw 30% of their assets from the $1 billion Intermediate Term Fund.