Academy Launches Treasury MMFs
A press release entitled, "Academy Securities Announces New Money Market Funds," tells us, "Academy Securities, a registered broker-dealer, certified Disabled Veteran Business Enterprise (DVBE), and Minority Business Enterprise (MBE), ... announced the launch of the Academy Share Class of the JP Morgan U.S. Treasury Securities Money Market Fund (JACXX) and JP Morgan U.S. Treasury Plus Money Market Fund (JPCXX). Like the JPAXX and JGAXX share classes launched in May 2019, the product offerings deliver the experience, expertise, and performance of the JP Morgan Asset Management team, while serving as a solution to cash management investors who share in the support of Academy Securities' social mission to mentor, train, and hire transitioning veterans. The partnership between JPM and Academy exemplifies the intersection between capabilities and authentic diversity. The JP Morgan 100% U.S. Treasury Securities Money Market Fund (JACXX) seeks maximum current income consistent with maximum safety of principal and maintenance of liquidity by investing in obligations of the U.S. treasury, which includes treasury bills, bonds, and notes. The JP Morgan U.S. Treasury Plus Money Market Fund (JPCXX) seeks current income with liquidity and stability of principal by investing in U.S. treasury bills, notes, bonds, and other obligations issued or guaranteed by the U.S. treasury and repurchase agreements collateralized by such obligations. The Academy Share Class of the JP Morgan Money Market Funds are managed by JP Morgan Asset Management." Academy Chairman & CEO Chance Mims comments, "We are very excited to launch the treasury money market fund share classes, as many of our clients have a need for a treasury only investment strategy. The opportunity to meet the needs of our growing list of customers is paramount to us at Academy." President Phil McConkey adds, "By investing in these new funds, our clients will be able to positively impact returning veteran heroes by giving them a chance at a career in financial services. We are grateful that JP Morgan has partnered with us to help fulfill this mission."
