Institutional Money Market Fund
The fund seeks stability of principal and current income. The fund invests primarily in high-quality commercial paper and other money market securities.
| Share Class | Ticker | CUSIP | Inception |
|---|---|---|---|
| Institutional | LSIXX | 31678R700 | 4/11/00 |
| Preferred | LSPXX | 31678S880 | 10/20/03 |
| Select | LSSXX | 31678S799 | 10/20/03 |
| Trust | LSTXX | 31678S807 | 10/20/03 |
Investment Approach
Our fund managers buy securities that —
- Meet our stringent standards for safety and stability
- Offer attractive relative value, compared to similar types of securities
Sell Discipline
Because they hold very short-term securities, money market funds do not trade their holdings as actively as stock bond and funds do. However, we consider selling a security in one of our portfolios if —
- We see an opportunity to rotate into a more attractive security
- We need to rapidly extend or shorten a portfolio's average maturity
- We have concerns about the financial stability of a corporation from whom we bought commercial paper
Portfolio Characteristics
As of 12.31.11
| Total Net Assets | $1,888,811,778 |
Ratings
| S&P | AAAm |
| Moody's | Aaa-mf |
| NAIC | NAIC Class 1 List |
Maturity Schedule
As of 12.31.11
| Days | % |
|---|---|
| 1 - 7 | 53.4 |
| 8 - 30 | 9.6 |
| 31 - 60 | 10.5 |
| 61 - 90 | 9.5 |
| 91 - 120 | 2.4 |
| 121 -180 | 5.9 |
| > 180 | 8.7 |
Funds
U.S. Equity Funds
Fixed Income Funds
Money Market Funds
Structured Products
Specialty Products
