Our Funds

Retail Tax Free Obligations

FTZXX

Investment Strategy

Seeks to provide maximum current income and daily liquidity by purchasing high-quality short-term municipal securities. There is no alternative minimum tax paper in the fund.

Fund Facts

FTZXX
31846V559
0.32%
0.20%

Fund Features

  • Invests primarily in high-quality, short-term municipal securities that pay interest and that are exempt from federal income tax, including the federal alternative minimum tax.
  • Municipal security investments may include variable rate demand notes, commercial paper, municipal notes and other short-term municipal obligations.

‡ The advisor has contractually agreed to waive fees and reimburse fund expenses through October 31, 2019 so that the total annual fund operating expenses do not exceed as stated. These waivers and reimbursements may be terminated any time after October 31, 2019 by the advisor. Prior to that time, waivers and reimbursements may not be terminated without approval of the fund's board.

Portfolio Liquidity1

as of 12/12/2018
12.8%
84.8%

Portfolio Allocation2

as of 12/6/2018
16.2%
4.0%
3.4%
76.4%

Bank Exposure By Country of Domicile2,3

as of 12/6/2018
5.9%
7.5%
41.0%

The fund's portfolio allocations are as of the date indicated, are subject to change without notice and are not recommendations to buy or sell. Current and future portfolio holdings are subject to risk.

1Portfolio Daily Liquid Assets are the percentage of the portfolio that is comprised of cash, direct obligations of the U.S. Government, securities that will mature (or are subject to a demand feature that is exercisable and payable) within one business day, and /or amounts receivable and due unconditionally within one business day on pending sales of portfolio securities. Portfolio Weekly Liquid Assets are the percentage of the portfolio that is comprised of cash, direct obligations of the U.S. Government, Government securities that are issued by a person controlled or supervised by and acting as an instrumentality of the government of the United States pursuant to authority granted by the Congress of the United States that are issued at a discount to the principal amount to be repaid at maturity without provision for the payment of interest and have a remaining maturity date of 60 days or less, securities that will mature (or are subject to a demand feature that is exercisable and payable) within five business days and / or amounts receivable and due unconditionally within five business days on pending sales of portfolio securities.

2Shown as a percentage of amortized cost. Pursuant to Rule 2a-7 where portfolio securities are valued at the fund's acquisition cost adjusted for amortization of premium or accretion of discount rather than at their current market value.

3Bank Exposure is determined by using a combination of either direct exposure when an investment is issued by a bank or indirect exposure where a bank provides full liquidity and/or other credit support to a security. Some securities held by the fund may not have bank exposure; therefore, the chart provided may not include the fund's entire investment portfolio.

The fund is required to provide the Securities and Exchange Commission ("SEC") with a monthly electronic filing of more detailed portfolio holdings information on Form N-MFP. Click here  to access the fund's publicly available Form N-MFP filings on the SEC's website.