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Friday, July 7, 2006|
Alleluia, Short-Term Savings
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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