A fund family that screens investments based on the teachings of the Roman Catholic Church has rolled out a new option for investors seeking liquidity.
The Ave Maria Money Market Account
-- from Bloomfield Hills, Michigan-based Ave Maria Funds
-- invests in short-term U.S. government money market securities through Automated Government Cash Reserves
, a fund managed by a Federated Investors
subsidiary. The Ave Maria Funds have approximately $400 million in net assets.
In a press release
, Ave Maria Funds president George Schwartz
said the company searched carefully for a conservative cash investment option to complement its five stock and bond funds.
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