With just a month and a half left before the SEC's major Money Fund Reforms go into effect, we continue to see the cash investment landscape shift by the week. The latest fund lineup merger, which happened last night, involves State Street combining its SSGA and State Street Institutional funds. State Street's merger filing explains, "At a joint special meeting of the shareholders of the Funds on August 22, 2016, the shareholders of Class N of each Fund approved its respective proposal to merge (each, a "Selling Fund") with and into the corresponding class of a corresponding buying fund (the "Buying Fund") listed in the table below (each, a "Reorganization"). Each reorganization had been previously approved by the Board of Trustees of each Selling Fund. Accordingly, it is expected that at the close of business on August 26, 2016, the Reorganization of the Selling Funds will be completed and your shares will be converted into shares of the corresponding Buying Fund." We've also seen `several new liquidations, prime to government conversions, name changes and fee adjustments. We review the most recent batch below.

The table shows the 2.6 billion SSGA Money Market Fund (SSMXX) merging into State Street Institutional Liquid Reserves Fund (Admin Class), the 6.2B SSGA Prime Money Market Fund (SVPXX) merging into State Street Institutional Liquid Reserves Fund (Trust Class), the 2.6B SSGA U.S. Govt Money Market Fund (SSGXX) merging into State Street Institutional U.S. Government Money Market Fund (Admin Class), and, the 8.3B SSGA U.S. Treasury Money Market Fund (SVTXX) merging into State Street Institutional Treasury Plus Money Market Fund (Trust Class).

For more information, see State Street's "Important Notice: Money Market Fund Reorganizations," which says, "Please note that each of the SSGA Money Market fund merger proposals has been Approved. Merger of the Money Market funds are scheduled to take place after the close of business on August 26, 2016." The New York Fed also commented in its "Revised Reserve Repo Counterparty List" that, "SSGA US Treasury Money Market Fund has been removed and State Street Treasury Plus Money Market Portfolio has been added to the list of reverse repo counterparties, effective August 29." (See too our July 19 News, "SSGA Merging MMFs Into State Street Lineup; State Farm Going Govt.")

In other fund "Change" news, Cavanal Hill is liquidating its Tax-Free Money Market Fund. Its Prospectus Supplement explains, "On August 5, 2016, the Board of Trustees (the "Board") of Cavanal Hill Funds approved a plan to liquidate and terminate the Cavanal Hill Tax-Free Money Market Fund (the "Fund"), upon the recommendation of Cavanal Hill Investment Management. Inc., the Fund's investment adviser. The Fund will distribute cash or in-kind pro rata to all shareholders who have not previously redeemed or exchanged all of their shares on or about October 23, 2016 (the "Liquidation Date"). These distributions may be taxable events. Once the distribution is complete, the Fund will terminate. Additionally, in anticipation of the Liquidation Date, the Fund will be closed to new shareholders on or about Friday, September 30, 2016."

It continues, "Shareholders may exchange shares of the Fund at net asset value at any time after September 15, 2016 but prior to the Liquidation Date for shares of the same class of the Cavanal Hill Funds Government Securities Money Market Fund. Shareholders may also redeem shares of the Fund at any time prior to the Liquidation Date. No sales charges, redemption or termination fees will be imposed in connection with such exchanges and redemptions. In general, exchanges and redemptions are taxable events for shareholders. In connection with the termination of the Fund and in order to facilitate the exchange of Fund shares for Cavanal Hill Funds Government Securities Money Market Fund shares, Cavanal Hill will make Government Securities Money Market Fund Select shares available for sale beginning September 15, 2016. The Government Securities Money Market Fund Select trades using the ticker symbol APSXX and CUSIP 14956P810."

CNR Prime Money Market Fund and CNR CA Tax Exempt also liquidated Friday. (See our July 7 News, "Deutsche Daily Assets to Float; CNR Prime, Wells, GS Munis Liquidate.") CNR's Prospectus Supplement explains, "The Board of Trustees of the Trust has approved a Plan of Liquidation for the City National Rochdale Prime Money Market Fund, which authorizes the termination, liquidation and dissolution of the Fund. In order to effect such liquidation, the Fund is closed to all new shareholder accounts. Shareholders may redeem their shares until the date of liquidation. The Fund will be liquidated on or about August 31, 2016."

We also learned that UBS changed the name of its UBS Select Tax-Free Institutional Fund to UBS Tax-Free Reserves Fund. The Prospectus filing for UBS Money Series, UBS Select Prime Institutional Fund and Select Tax-Free, which also indicates which funds will be "retail," says, "The purpose of this supplement is to update the Prospectus and SAI in response to amendments (the "Amendments") to Rule 2a-7 under the Investment Company Act of 1940, as amended, the primary rule governing money market funds, including UBS Select Prime Institutional Fund and UBS Select Tax-Free Institutional Fund (each, a "Fund"). These regulatory changes, which have a tiered compliance period that extends until October 2016, impact key aspects of how money market funds are structured and operate. Later this year, on or before the October 2016 compliance deadline, UBS Select Prime Institutional Fund will no longer be able to use the amortized cost method of valuation to seek to maintain a stable $1.00 net asset value ("NAV") per share as a result of the Amendments and will have a floating NAV. This means that the Fund's share price will fluctuate based on the current market value of the securities in the Fund's portfolio."

It adds, "UBS Select Tax-Free Institutional Fund intends to qualify and operate as a "retail money market fund," as defined in the Amendments, and will continue to seek to maintain a stable $1.00 NAV per share. In order to qualify as a "retail money market fund," later this year this Fund will adopt policies and procedures reasonably designed to limit all beneficial owners to "natural persons." Shareholders who do not so qualify will no longer be permitted to own Fund shares and are expected to receive information at a future time regarding alternative money market funds. Each of UBS Select Prime Institutional Fund and UBS Select Tax-Free Institutional Fund may be subject to the imposition of liquidity fees and/or the temporary suspension of redemption privileges (i.e., redemption gates) if the Fund's portfolio liquidity falls below certain required minimum levels because of market conditions or other factors once transitioned later this year in compliance with the Amendments. Effective on or about August 31, 2016, the name of UBS Select Tax-Free Institutional Fund will be changed to "UBS Tax-Free Reserves Fund."

Finally, UBS says, "In addition, effective October 30, 2015, the Funds' investment advisor and distributor were renamed UBS Asset Management (Americas) Inc. and UBS Asset Management (US) Inc., respectively. All references to "UBS Global Asset Management (Americas) Inc." in the Funds' Prospectus and SAI are hereby replaced with "UBS Asset Management (Americas) Inc." Similarly, all references to "UBS Global Asset Management (US) Inc." in the Funds' Prospectus and SAI are hereby replaced with "UBS Asset Management (US) Inc."

A separate filing for UBS Select Government Institutional Fund and UBS Select Government Preferred Fund also explains a recent fee reduction. It says, "The purpose of this supplement is to update certain information contained in the Prospectuses for UBS Select Government Institutional Fund and UBS Select Government Preferred Fund (each, a "Fund" and together, the "Funds") regarding a new voluntary fee waiver for the Funds. The Prospectus for each Fund is hereby supplemented as shown below. Effective from August 22, 2016 through October 31, 2016, UBS Asset Management (Americas) Inc. ("UBS AM") will voluntarily waive 0.04% of its management fee (imposed at the related master fund level) and 0.04% of its administrative fees (imposed at each feeder fund level) in order to voluntarily reduce each Fund's expenses by 0.08%.... Effective from November 1, 2016 through December 31, 2016, UBS AM will voluntarily waive 0.04% of its administrative fees for each Fund."

Also, another variable annuity money fund is "going government". A new filing for Prudential's Pruco Life Variable Universal and Appreciable annuity accounts explains, "Effective September 12, 2016, the PSF Money Market Portfolio will become the PSF Government Money Market Portfolio. The investment objective of the portfolio will remain unchanged. The investment objective is to seek maximum current income consistent with the stability of capital and the maintenance of liquidity. Prudential Investments LLC remains the investment manager. Prudential Fixed Income is now the Sub-Adviser. On the effective date all references to PSF Money Market Portfolio are hereby deleted and replaced with PSF Government Money Market Portfolio."

Finally, a PIMCO Funds filing says in a "Disclosure Related to the PIMCO Treasury Money Market Fund," "The Board of Trustees of PIMCO Funds (the "Trust") has approved the termination (the "Termination") of the PIMCO Treasury Money Market Fund (the "Fund"). The Termination is expected to occur on or about September 29, 2016. This date may be changed without notice at the discretion of the Trust's officers."

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