Fund Detail: Fidelity Instit MM: Tax Exempt III
(as of Aug 31, 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.fidelity.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 »Citibank Portal offers Morgan Stanley funds
Money fund trading "portal" Citibank Online Investments announced the addition of U.S. domestic institutional money market funds from Morgan Stanley Investment Management. Citi now offers "access to over 100 institutional funds, including U.S. dollar domestic, offshore, tax exempt, tax efficient, government, Treasury and non-dollar currency (Euro, Sterling) funds through a single channel making it easier and more efficient for companies to manage their liquidity." The portal has also added a new "News" page feature. Citibank Online Investments is a "global, secure, Web-based investment system offering a wide variety of short-term investment choices." For other money fund news, see InvesTech's Jim Stack writes in Forbes, "Money Market Funds: How Safe Are They?" and Washington Post's "Funds Turn To Treasury Guaranty".
"Money-market funds flock to guarantee program" says Associated Press
"Money-market funds flock to guarantee program" Associated Press via BusinessWeek.com. The article says, "Treasury Department spokeswoman Jennifer Zuccarelli declined to specify how many firms applied for guarantees by Wednesday's deadline, but she said, 'We have seen significant interest.'" It continues, "Through Wednesday, the agency reported receiving $337 million from funds paying upfront fees to participate. For the vast majority of eligible funds, the fee is one 'basis point,' or $1 for each $10,000 in fund assets. Based on that fee level and the $337 million in fees paid, applications have been filed to cover virtually all the $3.4 trillion in money fund assets. On new money it quotes, "But even those new, uncovered investments 'are much safer than they were before the guarantee program,' said Peter Crane, president of Crane Data, publisher of the money-market fund newsletter, Money Fund Intelligence," says the AP. Other articles of interest: "U.S. Weighs Backing All Bank Deposits", "Reserve Aims to Liquidate 14 of Its Funds", "Q: Is My Money Fund Safe? A: Maybe", and "Reserve says its money funds seeking guarantees".
Treasury Announces Conclusion of Enrollment Period for Temporary Money Market Guarantee Program and Technical Correction
Yesterday, the U.S. Treasury released the statement, "Treasury Announces Conclusion of Enrollment Period for Temporary Money Market Guarantee Program and Technical Correction". The brief says, "The Treasury Department announced today a technical correction that would permit additional money market funds to participate in Treasury's Temporary Money Market Fund Guarantee Program. Funds that have a policy of maintaining a stable net asset value or share price that is greater than $1.00 and had such policy on September 19, 2008 are now eligible to participate, provided the fund meets all of the other original requirements." Crane Data believes this is meant to include variable annuity money funds such as the $12.5+ billion CREF Money Market Account. (See TIAA-CREF's statement.) Treasury says, "The enrollment deadline for these funds that are now eligible as a result of this technical correction is 11:59 p.m. Washington, DC time on October 10, 2008. This technical correction does not extend the original deadline [last night at midnight] for funds that maintain a stable share price of $1.00 and that qualified under the program originally announced on September 29, 2008."