National Tax-Exempt Money Market Fund

(redirected from Tax-Free Money Market Fund)

National Tax-Exempt Money Market Fund

A mutual fund that invests predominantly or exclusively in municipal bonds with maturities of less than one year. Tax-exempt money market funds are intended to provide a return at little risk (compared to other investments) that is nonetheless better than the risk-free rate of return. Because it invests in municipal bonds, dividends from the fund are tax-free at the federal level (though they may be subject to state tax unless all bonds in the fund are issued in the state where the holder resides).
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(NYSE: FII) said in conjunction with its acquisition of Touchstone Advisors, Inc., it has acquired assets related to the reorganization of the Touchstone Ohio Tax-Free Money Market Fund into the Federated Ohio Municipal Cash Trust.
related to the reorganisation of the Touchstone Ohio Tax-Free Money Market Fund into the Federated Ohio Municipal Cash Trust, the company said.
have reached a definitive agreement regarding the acquisition by Federated of certain assets relating to Touchstone's management of the Touchstone Ohio Tax-Free Money Market Fund, a series of Touchstone Tax-Free Trust, Federated said on Friday.
'08 Stock Funds 3,332.3 3,105.OR 7.3 3,704.5 Hybrid Funds 460.2 441.4R 4.2 498.7 Taxable Bond Funds 1,277.9 1,240.OR 3.1 1,228.0 Municipal Bond Funds 362.7 361.1R 0.5 337.7 Taxable Money Market Funds 3,336.5 3,411.6R -2.2 3,340.8 Tax-Free Money Market Funds 479.4 478.5 0.2 497.5 TOTAL 9,248.9 9,037.7R 2.3 9,601.2
TOTAL NET ASSETS OF MUTUAL FUNDS Mar 09 Feb 09 % chg Dec 08 Stock Funds 3,332.3 3,105.0R 7.3 3,704.5 Hybrid Funds 460.2 441.4R 4.2 498.7 Taxable Bond Funds 1,277.9 1,240.0R 3.1 1,228.0 Municipal Bond Funds 362.7 361.1R 0.5 337.7 Taxable Money Market Funds 3,336.5 3,411.6R -2.2 3,340.8 Tax-Free Money Market Funds 479.4 478.5 0.2 491.5 Total 9,248.9 9,037.7R 2.3 9,601.2 Source: Investment Company Institute, $ billions
14 January 2013 -- Charles Schwab Investment Management, Incsaid it will begin posting the per-share market value for all of its domestic taxable and tax-free money market funds on a daily basis, beginning later this quarter.
TOTAL NET ASSETS OF MUTUAL FUNDS (BILLIONS OF DOLLARS) November 2008 October 2008 Stock Funds 3,601.1 3,935.4 R Hybrid Funds 482.5 511.4 R Taxable Bond Funds 1,189.7 1,211.9 R Municipal Bond Funds 345.5 350.8 R Taxable Money Market Funds 3,246.6 3,102.9 R Tax-Free Money Market Funds 489.0 487.2 R TOTAL 9,354.5 9,599.6 Percent Change December 2007 Stock Funds -8.6 6,521.4 R Hybrid Funds -5.7 713.4 R Taxable Bond Funds -1.5 1,305.1 R Municipal Bond Funds -1.4 373.8 R Taxable Money Market Funds 4.1 2,642.1 R Tax-Free Money Market Funds 0.3 465.1 R TOTAL -2.7 12,020.9 R R = Revised Source: Investment Company Institute.