Institutional Cash Management
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Prices and Performance

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Money Market Fund Dividend Accrual Policy

General policy:

  • The funds accrue dividends daily.
  • Dividends are paid out on the last business day of the month.
  • Reinvested dividends begin accruing on the first business day of the month.
  • For same-day transaction, dividends accrue on the date of the purchase and do not accrue on the date of redemption.

Weekends/Holiday:

  • If the month-end or year-end falls on a weekend, Friday, or holiday, dividends accrue through the calendar month-end.
  • Weekend dividends are included in Friday's daily factor.
  • A holiday daily factor is included in the previous business day's daily factor.

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus.

The daily factor is the interest factor that generates the dividend on a daily basis.

The 7-day current yield is an annualized net yield that describes the annualized income earned over a 7-day period.

The 7-day effective yield is annualized net yield that describes the amount one is expected to earn over a 1-year period assuming that dividends are reinvested at the average rate of the last 7-days.

The 7-day current unsubsidized yield does not reflect the effect of any fee or expense waivers made by the fund's manager.

The 30-day current yield is an annualized net yield that describes the annualized income earned over a 30-day period. The current yield calculations assume that the income earned on the principal is not reinvested in the fund.

The 30-day effective yield is an annualized yield that describes the amount that would be earned over a 1-year period if dividends were reinvested at the average rate of the last 30 days.

The adviser has committed to certain fee waivers and/or expense reimbursements. Without these reductions, the Fund's yield may have been lower. These reductions may be discontinued.

The U.S. Government guarantee applies to certain of the underlying securities and NOT to shares of the Government money market funds. A portion of the tax-free money market funds' income may be subject to federal, state and/or local income taxes or the alternative minimum tax (AMT).

Investing in all mutual funds entails risk. Information about the risks of investing in a fund is available in each fund's prospectus.

For more information, call 1-800-260-5969.

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