5  5  In point of fact, MMFs played a role in deepening the crisis during the "Lehman Shock" of September 2008 as well, as will be discussed below. The Reserve Primary Fund, a major independent MMF, held large amounts of CP issued by Lehman Brothers.
Consider the two basic types of agency agreements 1) the passively managed funds, performance of which mirrors or closely tracks that of a specific benchmark, and 2) the actively managed or specialist funds, which are not linked to a specific benchmark. There are positives to this dichotomy. Actively managed funds have the advantage of potentially higher yields while passive funds provide lower costs.