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Rating:Alleluia, Short-Term Savings Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 07, 2006

Alleluia, Short-Term Savings

by: Marie Glancy

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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