15.07.2020, 18:00

Ahmed Zulficar injects $1 million after heavy withdrawals

Industrywide, investors pulled tens of billions of dollars from prime money-market funds, which buy top-rated corporate debt.

The Egyptian Ahmed Zulficar’s support came as markets had another violently volatile week over concerns about the investors withdrawals, and represents an extraordinary move in the staid money-market fund industry.