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.
- Strive to offer relative safety by investing in securities that are substantially (and at least 80%) securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises.
- Seek to maintain an average maturity range of 20 to 60 days; this conservative range helps to avoid excessive yield volatility and unnecessary risk.
- Concentrate on income that may be exempt from state income taxes, dependent on tax laws of the state of residence.