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Money Market Funds
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The intelligent creation of wealth*
Individuals who are concerned about building their investment portfolios all too often neglect to invest their cash wisely. They tend to overlook the importance of returns on cash to their overall investment strategy. The result is that they generally do not spend as much time researching the potential returns on their cash as they do on other investments.
The basics of sound financial planning call for building an emergency cash reserve equal to 3-to-12 months of a family's expenses. This reserve should be liquid and provide stability of principal as its primary objective. The Heritage money market funds are designed to meet those objectives.
*Although money market fund managers strive to maintain a stable net asset value, the funds are not federally insured and there is no guarantee that a stable net asset value will be maintained.
Highest quality standards
Heritage money market funds seek to achieve maximum current income consistent with stability of principal by investing exclusively in high-quality money market instruments. In fact, Heritage's investment quality standards are among the highest in the industry.
The Heritage advantage
The Heritage money market funds are no-load funds. Investors pay no commissions to purchase or redeem shares of the funds and they benefit from:
- Daily liquidity,
- Competitive rates,
- Free unlimited check writing ($100 minimum),
- Free personalized checks,
- Low initial investment and minimum balance ($1,000) and
- Free automated rate line.
The Heritage Money Market Funds are AAAm-rated
Standard & Poor's has assigned its AAAm rating to the fund the highest assigned to money market mutual funds. When rating a fund, Standard & Poor's assesses the safety of principal. The rating is based on Standard & Poor's analysis of the fund's credit quality and market price exposure, as well as management's investment practices and internal controls. The AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value. To ensure that the fund maintains the high credit quality and weighted average maturity standards for AAAm funds, Standard & Poor's will monitor the fund weekly.
The Heritage Municipal Money Market Fund
For tax-conscious individuals who want to keep cash reserves working and, as a rule of thumb, are in at least a 28% Federal income tax bracket, it may make sense to consider the benefits of tax-exempt money market funds. By allowing dividends to compound without the effects of Federal taxation, the investment can grow much faster.
Heritage Municipal Money Market Fund is generally exempt from Federal income tax. Some investors, however, may be subject to municipal and/or state taxes or the alternative minimum tax.
Alliance Capital Management L.P., one of the nation's most respected asset management firms, is the subadviser for the Heritage Municipal Money Market Fund.
*Standard & Poor’s, a widely recognized independent authority on credit quality, rates certain money market funds based on weekly analysis. When rating a money market fund, Standard & Poor’s assesses the safety of principal. According to Standard & Poor’s, a fund rated AAAm (“m” denotes money market fund) offers excellent safety features and has superior capacity to maintain principal value and limit exposure to loss. In evaluating safety, Standard & Poor’s focuses on credit quality, liquidity, and management. The rating is subject to change and does not remove market risk.
** Investments in the money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds.
Heritage Automatic Investment Plans
Too often, individuals intend to put money aside for the future only to find nothing left after paying their bills. The Heritage Family of Funds understands the problem and offers a solution . . . our Automatic Investment Plans. Through this Heritage service, individuals can have regular investments deposited directly into any of the Heritage open-end mutual funds. No waiting in lines at the bank. No lost, stolen or forged checks. Checks deposited on time, even if you are on vacation. Money begins earning dividends sooner. The entire process is automatic, with deposits reported on your statement.
For details, please contact your financial advisor.