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 | 4/11/2000 |
| Preferred | LSPXX | 31678S880 | 10/20/2003 |
| Select | LSSXX | 31678S799 | 10/20/2003 |
| Trust | LSTXX | 31678S807 | 10/20/2003 |
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 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 03.31.12
| Total Net Assets | $1,909,898,700 |
Ratings
| S&P | AAAm |
| Moody's | Aaa-mf |
| NAIC | NAIC Class 1 List |
Maturity Schedule
As of 03.31.12
| Days | % |
|---|---|
| 1 - 7 | 55.4 |
| 8 - 30 | 6.46 |
| 31 - 60 | 10.96 |
| 61 - 90 | 4.91 |
| 91 - 120 | 2.49 |
| 121 -180 | 11.21 |
| > 180 | 8.57 |
Funds
U.S. Equity Funds
Fixed Income Funds
Money Market Funds
Structured Funds
Specialty Funds
