Law and regulation

RS Investments Dumps Money Market Fund

February 19, 2013, 10:26 a.m. EST 1 Min Read

There will be one less money market fund come May.

The Board of Trustees of San Francisco-based RS Investment Trust has approved the liquidation of the RS Money Market Fund (GCMXX) on May 17, according to a regulatory filing. The fund was launched in September 1982 and managed some $452 million as of the end of December 2012. Its portfolio managers include Alexander Grant and Martin Vernon.

"As cash investment is not a core product offering, the fund’s closing is in line with the steps taken by RS Investments to continue to sharpen its focus on core products and to strengthen its investment solutions offerings," according to a statement from the firm.

As of September 2012, RS Investments managed approximately $24 billion on behalf of its clients.

For reprint and licensing requests for this article, click here.

Law and regulation

Money Management Executive

TRENDING

Wealth management

Merrill leaps back into recruiting with $3.5B team from JPMorgan

An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.

By Dan Shaw

April 19
Tax

New CPA exam section on financial planning links tax and wealth

After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.

By Tobias Salinger

April 19
Industry News

Goldman Sachs, Morgan Stanley, Citigroup: How they're deploying tech and what it costs

During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.

By Rachel Witkowski

April 18

MORE FROM FINANCIAL PLANNING

Wealth management

Merrill leaps back into recruiting with $3.5B team from JPMorgan

An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.

By Dan Shaw

April 19
Tax

New CPA exam section on financial planning links tax and wealth

After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.

By Tobias Salinger

April 19
Industry News

Goldman Sachs, Morgan Stanley, Citigroup: How they're deploying tech and what it costs

During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.

By Rachel Witkowski

April 18
Tax

Fighting stubborn racial disparities in homeowner tax subsidies

Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.

By Tobias Salinger

April 18
Retirement

1 in 4 couples disagree over retirement spending priorities

Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.

By Nathan Place

April 18
Earnings

Citizens reports fast progress in building its private bank

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

By Allissa Kline

April 17