CIC Says It Has Fully Recovered Its Investment Funds For Us Money Market Funds.
In September 10th, CIC released a news bulletin on its website that CIC had already withdrawn to the United States.
money market
Investment funds of The (Reserve Primary Fund).
CIC
The full text of the company's announcement is as follows:
In April 2008 and May, CIC invested $5 billion 300 million in cash management requirements for two times to the US "reserve fund management company" (The Reserve), which is called the "main fund" (The Primary Fund).
In September 2008, due to the collapse of Lehman brothers in the financial crisis, The Primary Fund was forced to write off the Lehman brothers' bills and bonds it had held and declared liquidation.
Our company has issued a full redemption order to The Primary Fund prior to its announcement of liquidation, and the fund has written confirmation that all the principal and interest of CIC will be returned, but it will be suspended after the SEC allows it to temporarily freeze the liquidation process.
Our company has been following closely the progress of the fund's performance of repayment obligations, and has repeatedly communicated with the government regulators such as the US Treasury and the Securities Regulatory Commission to obtain the right to redeem the principal through legal channels, and urges all parties to prompt the fund to return the debt as soon as possible.
Since October 2008, The Primary Fund has made seven capital returns to our company.
As of July 2010, our company has withdrawn all the investment funds.
Some media recently reported that our company invested in The Primary Fund.
capital
The recovery is inconsistent with the above facts.
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