Dreyfus, Vanguard Muni MF Changes
A Prospectus Supplement filing for Dreyfus Municipal Cash Management Plus says, "Effective on or about January 17, 2017 (the "Effective Date"), the fund's name will change to Dreyfus AMT-Free Municipal Cash Management Plus. As of the Effective Date, the following replaces the first paragraph of the section entitled "Fund Summary – Dreyfus Municipal Cash Management Plus – Principal Investment Strategy" in the prospectuses: To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in short-term, high quality municipal obligations that provide income exempt from both federal income taxes and the federal alternative minimum tax. The fund also may invest in high quality, short-term structured notes, which are derivate instruments whose value is tied to underlying municipal obligations. As of the Effective Date, the following supersedes and replaces any contrary information in the section entitled "Fund Details – Goal and Approach" in the prospectuses: Dreyfus AMT-Free Municipal Cash Management Plus normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in short-term, high quality municipal obligations that provide income exempt from both federal income taxes and the federal alternative minimum tax." Another filing for Vanguard CA, NJ, NY, OH and PA Tax-Free Money Market Funds says, "The boards of trustees of Vanguard California Tax-Free Funds, Vanguard New Jersey Tax-Free Funds, Vanguard New York Tax-Free Funds, Vanguard Ohio Tax-Free Funds, and Vanguard Pennsylvania Tax-Free Funds have approved the renaming of the following Funds. These name changes are expected to occur in the first quarter of 2017. The investment objective and limitations of each Fund will remain the same, including the 20% limitation on investments in securities that are subject to the alternative minimum tax." The new names will be: Vanguard California Municipal Money Market Fund, Vanguard New Jersey Municipal Money Market Fund, Vanguard New York Municipal Money Market Fund, Vanguard Ohio Municipal Money Market Fund, and Vanguard Pennsylvania Municipal Money Market Fund."
