​ Dreyfus Investments has announced that it is merging its Dreyfus California Tax Exempt Money Market into its General California Municipal Money Market, Class A on Friday, March 9. California remains the most popular state for Tax Exempt Money Funds due to its punishing 9.​3% income tax (​for income over $​40K). Money Fund Intelligence tracks 43 CA funds with over $​50 billion in assets. These funds currently average yields of 3.​02% (​as of 2/​28).

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