S&P Rts First American Tax Free Obligations Fund AAAm.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 09/30/98--Standard & Poor's today assigned its highest money market rating of triple-'Am' to the First American First American may refer to:
The rating is based on Standard & Poor's analysis of the fund's credit quality, investment policies, market price exposure, and conservative management. The triple-'Am' rating signifies that safety of invested principal is excellent and the fund has a superior capacity to maintain a $1 per share net asset value at all times. This is achieved through conservative investment practices and strict internal controls. Standard & Poor's reviews the fund's portfolio holdings on a weekly basis. The First American Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". is an open-end investment company open-end investment company: see mutual fund. which offers shares in 38 different mutual funds. The fund's investment objective is to achieve maximum current income exempt from federal income taxes consistent with the preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at and maintenance of liquidity. First American Tax Free Obligations Fund seeks to achieve this objective by investing in high quality, short-term municipal securities. Currently, the First American Family of Funds has a triple-'Am' rating on one of their other family members, the First American Treasury Obligations Fund. Unlike the First American Tax Free Obligations fund, the Treasury Obligations portfolio is a taxable fund that invests in United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Treasury obligations, and repurchase agreements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc such securities. First American Asset Management (FAAM FAAM Foot and Ankle Ability Measure (physical therapy) ), a division of U.S. Bank National Association, MN (single-'A'-plus/Stable/'A-1'), is the investment adviser to the fund. In addition to being an investment adviser to the First American Family, FAAM also provides investment management services to individuals and institutions, including corporations, foundations, pensions, and retirement plans, with over $78 billion in asset management. SEI Investments Management Corp. serves as the administrator, DST Systems Inc. as the transfer agent, and U.S. Bank National Association acts as custodian for the fund's assets. The First American Tax Free Obligations Fund maintains high credit quality standards by investing at least 50% of fund assets Fund assets The total value of a portfolio's securities, cash, and other holdings, minus any outstanding debts. in securities rated 'A-1'-plus by Standard & Poor's or equivalent and a maximum of 50% in securities rated 'A-1'. To enhance liquidity and diminish sensitivity to changing interest rates the fund seeks to maintain a weighted average maturity of 60 days or less, Standard & Poor's said. -- CreditWire |
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