Gabelli US Treasury MMF Rated AAA
A press release entitled, "Fitch Assigns ‘AAAmmf’ Rating to the Gabelli U.S.Treasury Money Market Fund," tells us, "Gabelli Funds, LLC is pleased to announce that the Gabelli U.S. Treasury Money Market Fund (GABXX) has been assigned an 'AAAmmf' rating by Fitch Ratings.... Fitch views the Fund's low exposure to interest rate risk [and] holdings of liquid assets ... consistent with Fitch's high 'AAAmmf' rating criteria. Additionally, Fitch also views Gabelli Funds, LLC's investment advisory capabilities, financial and resource commitments, operational controls, corporate governance and compliance procedures as consistent with the 'AAAmmf' rating assigned to the Fund. The Gabelli U.S. Treasury Money Market Fund is among the most competitive money market funds in its class. The quality of U.S. Treasury securities coupled with maintaining one of the lowest expense ratios (.08%) in the industry and the exemption from state and local income taxes (SALT) of its dividends, translates into an effective after-tax yield competitive with any fund in the industry. The Gabelli U.S. Treasury Money Market Fund is a money market mutual fund managed by Gabelli Funds, LLC, a wholly owned subsidiary of GAMCO Investors, Inc. (GBL). The Fund invests exclusively in U.S. Treasury securities and its primary objective is high current income consistent with the preservation of principal and liquidity."
