Fund Detail: Evergreen Institutional Muni I
(as of Jun 30, 2008)
The following data is available free of charge, after registration.
| Basic | |||
|---|---|---|---|
| Ticker Symbol | Target | ||
| AM (days) | Category | ||
| Assets ($M) | Minimum ($K) | ||
| Expenses | Inception | ||
| 7-Day Effective | AAA-Rated | ||
| 7-Day Yield | 7-Day Rank1 | ||
| 30-Day Yield | 30-Day Rank1 | ||
| Contact | |||
| Fund Phone | |||
| Website | http://www.evergreeninvestments.com | ||
The following information is available to subscribers of Money Fund Intelligence:
| Returns | |||
|---|---|---|---|
| 1-Year 2 | 1-Year Rank1 | ||
| 3-Year2 | 3-Year Rank1 | ||
| 5-Year2 | 1-Month3 | ||
| 10-Year 2 | 3-Month3 | ||
| Since Inception2 | YTD3 | ||
| Legend | |
|---|---|
| 1) Rankings within fund's type and category.
2) Annualized compound returns. 3) Cumulative simple returns. 4) Approximation; may be inexact due to rounding errors. |
|
More information fields, and sorting capabilities, available in Money Fund Intelligence and Money Fund Intelligence XLS hardcopy.
Definitions & Formulas
Crane Data makes every effort to obtain the most accurate statistics possible but we cannot be held responsible for incorrect information. Information is obtained from multiple sources. Money Fund Intelligence™ is for informational purposes only and should not be considered investment advice. Prospectuses and advisers should be consulted before investing. Money funds are not guaranteed by the FDIC or any government agency and may lose value. Italics indicates dated or estimated information. Additional funds, fund types, and averages will be added in coming months. Fund: Name of portfolio and share class. We attempt to list the full legal name, but abbreviations and changes are often needed. MMF=Money Market Fund, Inst=Institutional, Govt=Government. Symbol: NASDAQ Ticker Symbol. If a fund has no ticker, we assign an ID with a number in it (e.g. AIM01). Assets: Total share class investments in millions of dollars. Portfolio assets are available in MFI XLS. AM: Average weighted maturity (in # of days). Exp%: Total Expense Ratio (after waivers) as annual percentage, includes all management, 12b-1, shareholder service and administrative fees. Obtained from prospectus, accountant, fund management company or website. 7Day%: 7-Day (SEC) simple annualized yield in percent. Dividends paid over 7 days are added, divided by 7, then multiplied by 365*100 (for %). (To compound, use the SEC's formula from Form N-1A. Effective Yield= [(Base Period Return + 1)365/7] -1) 1Month: monthly return annualized in percent. 3Mo: 3-month cumulative (unannualized) returns in %. YTD: Year-to-date returns (unannnualized in %). 1 Yr%: One year total return (annualized, compound). 3Yr%: Average annualized returns for prior 36 months. 5Yr%: Average annualized total returns for prior 60 months. 10Yr%: Average annualized total returns for prior 120 months. Incept: Average annualized return since inception. Inception Date: Fund's first day of operation. Gross7: Gross 7-day yield in % (simple), calculated by adding expense ratio to current 7-day yield (annualized).
Link of the Day
more links »Nightly Bus. Report: "Money Market Mutual Funds May Have To Manage More Scrutiny"
PBS's Nightly Business Report did a piece entitled, "Money Market Mutual Funds May Have To Manage More Scrutiny" last night, which rehashes some old news on money fund bailouts and which speculates that money funds mace face more regulatory scrutiny. The Reserve's Bruce Bent, DB Advisors Kevin Bannerton, and fund gadfly Mercer Bullard briefly comment in the segment. "During the past year, at least 17 money market management firms have quietly unwound their riskier investments to prevent what's known as breaking the buck," says NBR. (We argue, though, that this is incorrect. Most would not have "broken the buck" even without support actions.) Click here for video.
"Money market mutual funds are safe, but not perfect" says USA Today
USA Today writes "Money market mutual funds are safe, but not perfect" in reader Q&A. The question was: "Can you verify that no one in the U.S. has ever lost money in a money market mutual fund?" Columnist Matt Krantz responds, "Money market mutual funds are extremely safe places to park cash. Next to putting your money in an FDIC-insured bank account, a money market fund run by a respected financial firm is one of the safest things you can do with your cash." He adds, "Just one money market fund allowed its shares to fall below $1, and that was Community Bankers US Government Fund in 1994." In other news, Reserve issued a press release yesterday afternoon entitled, "The Reserve Mourns and Remembers Former Partner, Henry "Harry" B.R. Brown."
"Smaller Money Funds Throw in the Towel"
Last Friday, Fund Action wrote "Smaller Money Funds Throw in the Towel", which said, "As new regulation looms and firms assess damage from the credit crunch, the money market fund industry is consolidating." We disagree with this contention, however, as Fund Action is only able to cite a handful on marginal players leaving the space, such as Pax World Funds and Capital One (moving to Fidelity). There hasn't been a substantial departure from the money fund space since Alliance sold its fund management to Federated many years ago.