Crane Data Subscribers
New Dreyfus California AMT Tax Free Cash Management Fund Launches. Yesterday, Dreyfus Service Corporation began offering a tax-free institutional California no-AMT fund, Dreyfus CA AMT Tax Free Cash Management. The fund is charging a very lean (for tax-free) 20 basis points on its Institutional class. (The Administrative class will charge 30 bps, the Investor class will charge 45 bps, and the Participant class will charge 60 bps.) Fidelity recently launched Fidelity CA AMT Tax-Free MM Inst, and the launch of Schwab CA AMT Tax Free Money is imminent. (See our upcoming August Money Fund Intelligence for more on AMT tax-free funds and an interview with Dreyfus Tax-Exempt Portfolio Manager Joseph Irace.)
