If you are looking for liquidity and convenience with the advantage of money market rates, consider this fund. Money market funds invest in short-term instruments with maturities of 13 months or less, in an effort to maintain a stable net asset value of $1.00 per share. Income from the Fund may be subject to federal alternative minimum tax (AMT), state and local taxes.
- Concentrate on income that is generally exempt from regular federal income tax and California state tax.
- The Fund may be attractive for investors in higher tax brackets as the Fund's taxable equivalent yield may exceed the yields of taxable funds.
- Generally refrain from purchasing Alternative Minimum Tax (AMT) obligations; however, it may invest in them modestly under certain market conditions.
- Seek to maintain an average maturity range of 20 to 60 days; this conservative range may help avoid excessive yield volatility and unnecessary risk.