Closed-end funds a double whammy
A reader asks about a 1989 purchase of 5000 shares of Van Kampen Merritt Limited Term High Income Trust at $12. The fund holds high yield junk bonds with a seven and a half year term ending 2001 and 2004 maturities. NAV can fall or rise, and shares trade at a premium or discount to NAV. Despite past volatility, the fund pays about 11.29 percent yield. The adviser says to hold for now but monitor. If the price falls more than 75 cents, selling into a money market fund is advised and reentry may occur when prices stabilize.
MENTIONED IN THIS ARTICLE
Uln
van Kampen Merritt
Money fund yields rise over week to 2.75 percent
The seven day average yield on money market mutual funds increased to 2.75 percent for the week ending Tuesday from 2.71 percent the prior week. Total money market assets reached 585.16 billion dollars for the period.
MENTIONED IN THIS ARTICLE
New York
Money Fund Report
Ibc-Donoghue
Thieves steal cellular signals with clone phones
Across the country high tech thieves are pulling cellular signals from the air to create clone phones allowing free calls. SNET Cellular uses CloneDetector from GTE to detect unusual calling patterns, analyzing in about six minutes what once took hours. Some cases involve tens of thousands of dollars in pirated time.
MENTIONED IN THIS ARTICLE
EW Haven
Conn
Southern New England Telephone Co
Connecticut
Snet Cellular
GTE Telecommunications Services
GTE Corp
Joe Juliano
Juliano
Sharpe Smith
Cellular Telecommunications Industry Association
Washington, D.C
SNET Tackles Cellular Cloning With AI Based Anti Piracy
Connecticut firm SNET lends its mobile network to New York and Long Island Sound users as cellular cloning fueled by thieves copying electronic serial numbers threatens revenue. Since 1991 carriers push tech and law enforcement to curb fraud with GTE backed AI driven software that flags unusual calling patterns and learns to improve accuracy.
MENTIONED IN THIS ARTICLE
Snet Cellular
Connecticut
Springfield
Mass
Long Island Sound
Banks issue uniform rules on mutual fund sales
Federal guidelines issued by OCC FDIC Federal Reserve and OTS instruct banks and thrifts to ensure customers know mutual funds are not government insured. Banks should not sell funds at teller windows and must obtain signed acknowledgments of non guarantees. Mutual funds involve market risk and deposits remain insured up to 100000.
MENTIONED IN THIS ARTICLE
Washington
Savings and Loans
Banks
S&ls
Also Mentioned on This Page
Quevec
U.S
Treasury
Susan Bondy
Cedar Rapids
P.O. Box
Iowa
Bondy
Coldwell Banker
Hedges Associates, Realtors
Ron Baty
Ben Wheeler
Quadisapely
Leinern
Gary Speicher
CLU
Chfc
2Nd Ave
American Life and Casualty Insurance Co
Des Moines
Los Angeles
SNET
Karl Tate
Office of the Comptroller of the Currency
Federal Deposit Insurance Corp
The
Federal Reserve Board
Office of Thrift Supervision
Millhiser-Smith Agency
Rick Miller
Gregory A. White
Amalgamated Spirité5 Provision Company
Kirkwood
MS Word
Linn Hall
Lincoln Computer Center
Ninth St
Eighteenth Ave. S.W
1St Ave
Murphy Employment
Abacus Business Services
IRS
ESM Telegraph Company
Grinwee
Chuck's Cab & Delivery
Madame
Westdale Mall
Edgewood Rd
Franklin St
Center Point
Gerdemann Accounting
Partn
Lyle Gerdemann
Jeff
Lori
Marlin
3Rd Ave
Nancy Gerdemann
21St Ave
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