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 exempt from regular federal income tax.
- Strive to maintain 0% alternative minimum tax (AMT) securities, however, the Fund may purchase higher yielding securities subject to the federal AMT; to the extent that it invests in AMT obligations, investors who are not subject to the AMT may potentially enjoy higher, non-taxable income.
- 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.
- Seek to maintain an average maturity range of 20 to 60 days; this conservative range may help avoid excessive yield volatility and unnecessary risk.