Another money market fund is making its way toward the recycling bin.
Russell Investments is liquidating its money market fund at the end of April according to a regulatory filing. RS Investments last month said it is shelving its own money fund because “cash investment is not a core product offering” for the firm. A Russell spokesman declined to comment on the fund’s liquidation.
The Russell Money Market Fund is expected to liquidate on April 26, according to the filing. It was launched in October 1981 and managed by Kelly Mainelli. The fund managed $190 million as of the end of December 2012.