Products & Services : Money Market Funds
Money Market Funds
Get the Money Fund Advantage. If you're looking for a stable, short-term investment that makes sense, a money market fund may be the right choice for you.
Unlike other comparable investments, money funds give you daily earnings and daily liquidity. There are no locked-in periods of maturity, no minimum time your money must remain in the fund.
Your money is continually earning income in one of our money market funds where historically, rates have been higher than interest-bearing savings and checking accounts.
Plus, pooling your money with other investors gives you an edge. Money funds let you diversify your holdings and minimize the risk that comes with buying securities directly. That means a more stable, more liquid investment.
Choose the fund that best suits your needs or switch between funds as your investment goals change. There are no "loads" or transaction fees, so you can purchase and redeem shares at your convenience.
Money Market Funds
Money Funds |
Objective |
Prospectus |
California Daily Tax Free Income Fund
Class A |
To seek as high a level of current income exempt from federal and California income taxes as is consistent with the preservation of capital and the maintenance of liquidity. |
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Connecticut Daily Tax Free Income Fund
Class A |
To seek as high a level of current income exempt from federal and Connecticut income taxes as is consistent with the preservation of capital and the maintenance of liquidity. |
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Daily Income Fund Money Market Portfolio, Institutional Service Class |
To seek as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity. |
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Daily Income Fund Money Market Portfolio, Retail Class |
To seek as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity. |
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Daily Income Fund Municipal Portfolio, Retail Class |
To seek as high a level of tax-exempt current income to the extent consistent with the preservation of capital and the maintenance of liquidity. |
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Daily Income Fund U.S. Government Portfolio, Retail Class |
To seek as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity. |
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Daily Income Fund U.S. Treasury Portfolio, Institutional Service Class |
To seek as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity. |
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Florida Daily Municipal Income Fund Class A |
To seek as high a level of current income exempt from federal and New Jersey income taxes as is consistent with the preservation of capital and the maintenance of liquidity. |
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New Jersey Daily Municipal Income Fund Class A |
To seek as high a level of current income exempt from federal and New Jersey income taxes as is consistent with the preservation of capital and the maintenance of liquidity. |
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New York Daily Tax Free Income Fund Class A |
To seek as high a level of current income exempt from federal and New York state and city income taxes as is consistent with the preservation of capital and the maintenance of liquidity. |
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Ohio Tax-Free Money Fund |
To seek the highest level of current income exempt from federal and Ohio income taxes consistent with liquidity and stability of principal. |
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Our Money Fund Provider:
Reich & Tang Funds is the only firm in the financial services industry that specializes in money funds and cash management services and acts as a silent partner to financial intermediaries. As part of a global organization, Reich & Tang Funds delivers boutique services to clients. Natixis Global Asset Management is one of the top 25 money managers in the world with over $808 billion in assets; The Group is strongly committed to the growth of our business and maintains substantial liquidity. Among its subsidiaries are Loomis Sayles and Harris Associates/Oakmark.
Source: Pensions & Investments/WatsonWyatt, September 4, 2006.
As of March 31, 2007
The Institutional Daily Income Fund/Money Market Portfolio and the Institutional Daily Income Fund/US Treasury Portfolio have an initial requirement of $1 million.
An investment in money market funds are not insured or guaranteed by FDIC or any other government agency. Although the funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the funds. A portion of the income from tax-free funds may be subject to state and local taxes and if applicable, the Federal Alternative Minimum Tax (AMT).
