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Tax-Exempt Money Market Fund
The Armada Tax Exempt Money Market Fund is for investors who are looking for a tax-free alternative to a traditional money market fund. This Fund invests in short-term, federally tax-exempt debt obligations.
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xml version="1.0"?> | MARKET WATCH(15:40 to NY open) | | |  | S&PFutures | 830.30 | +0.80 | 0.10% | | | | S&P 500 | 829.85 | +7.86 | 0.96% | | | | DJIA | 7775.60 | +70.73 | 0.92% | | | | NASDAQ | 1314.40 | +6.63 | 0.51% | | | | 10-yr Note | 3.62 | -0.03 | -0.69% | | |
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Ticker Lookup >>
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Investment Strategy
Short-term Investing With Money Market FundsThe Armada Tax Exempt Money Market Fund’s managers place a high emphasis on quality. They generally invest only in short-term debt obligations, issued on behalf of the states, territories, or the possessions of the United States, the District of Columbia, and their political subdivisions, agencies, or instrumentalities, in the top two rating categories. The Fund’s dollar weighted average maturity will not exceed 90 days, and no more than 10% of net assets may be invested in illiquid securities.
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Portfolio Composition
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| Municipal Bonds |
99.50% |
| Unknown |
0.50% |
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Taxable Equivalent Yield
After you deduct state and federal taxes, the yield from a taxable investment may not be all you expected it to be. In fact, with a taxable investment, you need to earn a significantly higher yield to provide the same amount of income you receive from a tax-free investment. The yields below reflect a 7% state tax rate and the highest federal tax rate.
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| Taxable Equivalent Yield* |
N/A |
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Management Team
At Armada, specialization is the key to our investment management philosophy. Our portfolio managers and research analysts work in independent teams. Each team focuses on a single sector or investment style. Their dedication and clear focus are reflected in the unwavering style purity of our funds.
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An investment in the money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Taxable Equivalent Yield for taxpayers in the highest tax bracket, calculated according to the SEC standardized formula, represents the investment yield which would have to be generated by a taxable investment in order to match the income generated by a tax-free investment. The Pennsylvania state tax rate is 2.8%. The Ohio state tax rate is 7.0%. The 7-day yield represents the income generated by an investment in the Fund, over a 7-day period, assuming a reinvestment in fund shares of all dividends during this period (i.e. Compounding). This income is then annualized. The advisor has waived fees during this period. Without such waivers the 7-day yield would have been lower.
Mutual funds involve risks including possible loss of principal. Performance figures quoted herein may be lower due to recent market volatility. Past performance is not indicative of future performance, and the principal value and investment return will fluctuate, so that you may have a gain or loss when you sell your shares. National City Investment Management Company (IMC) serves as investment adviser to Armada Funds, for which it receives an investment advisory fee. Armada Funds are distributed by SEI Investments Distribution Co. (SIDC), Oaks, PA 19456. SIDC is not affiliated with IMC and is not a bank. This must be accompanied or preceded by a current Armada prospectus. Read it carefully before you invest or send money.
Total returns shown reflect reinvestment of dividends and capital gains.
During the reporting periods shown, the administrator, custodian and advisor have waived fees. Without such waivers, performance would have been lower.
During the reporting periods shown, the administrator, custodian and advisor have waived fees. Without such waivers, performance would have been lower.
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