While we attempt to monitor the SEC's EDGAR database of mutual fund filings directly, we find it extremely cumbersome and time-consuming to do so. Luckily, New York mutual fund research firm Strategic Insight offers a cleaner front-end to, and summary of, EDGAR, called Simfund Filing. This product's most recent summary of filings shows new "portal" (E) classes have been filed for a number of HSBC money funds, new I and P classes have been filed for Transamerica Money Fund, and a new Williams Capital US Treasury Money Fund is pending. Several investment policy and manager changes also involve money funds.
SimFundFiling says of HSBC's recent filings, "HSBC Global Asset Management USA money market funds register Class E shares, which will be offered primarily for investment through portal providers, intermediaries (anyone facilitating the purchase of the fund by its clients), and institutional direct clients, if they meet the minimum investment ($10 million)."
New E class filings are being launched for the following HSBC funds: HSBC Inv Prime Money Market, HSBC Inv US Govt Money Mkt, HSBC Inv US Treas Money Mkt, HSBC Inv CA Tax-Free MMF, HSBC Inv NY Tax-Free MMF, and HSBC Inv Tax-Free Money Mkt, which already have A, C, D, I and Y shares. The E class will charge 0.25% after reimbursement, compared to 0.20% for the I class (direct institutional), 0.30% for the Y, 0.55% for the D, 0.70% for the A, and 1.30% for the B and C shares (though the latter are no doubt being waived in the zero yield environment).
In changes to investment strategy news, Strategic Insight says of a Russell Money Market filing, "In mid-November, the fund will begin transitioning to a new investment strategy ... investing in a portfolio of high quality money market securities issued or guaranteed by the U.S. government, its agencies or instrumentalities maturing within 397 days or less (with variable rate securities may have longer maturities). The transition is expected to be complete by the end of the year." They add, "Effective October 2009, each of the linked funds which currently invests its cash reserves or cash collateral received in securities lending transactions in the Russell Money Market fund will instead invest in either the Russell U.S. Cash Management fund or the Russell U.S. Cash Collateral fund, unregistered funds advised by RIMCo and administered by RFSC."
The new filings for the Transamerica and Williams Capital funds have yet to show a fee table, but the Transamerica offerings appear to be imminent. (It has a prospectus filed.) Finally, under "Manager Changes," SimFundFiling cites the new managers of Janus Government MMF and Janus MMF as "J. Eric Thorderson and David Spilsted." Eric Thorderson had previously been listed as the sole manager.
In Crane Data's latest Money Fund Intelligence, our "Fund Additions & Changes" section showed that Credit Suisse Inst MMF Prime (CUTXX), Dreyfus Inst MMF (DMSXX), SEI T-E Trust MA T-F MMF B, and Virtus Insight MMF E (HECXX) were all liquidated in September, while Investor classes were added to JPMorgan Prime MM and JPMorgan Govt MM.
