National Tax-Exempt Money Market Fund

(redirected from Tax-Free Money Market Funds)

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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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.
'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