Huntington Liquidates Muni Funds
Huntington became the latest fund family to liquidate some of its money market funds. The Huntington Funds liquidated its municipal money market funds last month, including the Huntington Tax-Free MMF and the Huntington Ohio Municipal MMF. The company's SEC filing states, "At a meeting of the Board of Trustees (the "Board") of The Huntington Funds (the "Trust") held on October 30, 2014, the Board considered and approved the recommendation of Huntington Asset Advisors, Inc. (the "Advisor") to dissolve and liquidate the Huntington Tax-Free Money Market Fund (the "Fund"). Accordingly, the Advisor will prepare a Plan of Liquidation (the "Plan") for execution by the Trust. In connection with the decision to dissolve and liquidate the Fund, Class A Shares and Institutional Shares of the Fund will soon be closed to all new and subsequent investments.... The Fund will be dissolved and liquidated on or about December 19, 2014 (the "Liquidation Date")." The other filing says, "At a meeting of the Board of Trustees (the "Board") of The Huntington Funds (the "Trust") held on October 30, 2014, the Board considered and approved the recommendation of Huntington Asset Advisors, Inc. (the "Advisor") to dissolve and liquidate the Huntington Ohio Municipal Money Market Fund (the "Fund"). Accordingly, the Advisor will prepare a Plan of Liquidation (the "Plan") for execution by the Trust.... The Fund will be dissolved and liquidated on or about December 19, 2014 (the "Liquidation Date")." See also our last piece on fund liquidations, "Touchstone to Liquidate Money Funds, Victim of SEC's MMF Reforms."
