National Tax-Free Money Market Fund – NWMXX

 


 

7-Day Current Yield 09-04-15 0.01%
7-Day Current Pre-Waiver Yield -0.55%
7-Day Effective Yield 0.01%
YTD Return 0.01%
Inception Date 01-07-1988
Net Fund Assets 07-31-2015 $2,949,802,251.89

PERFORMANCE

AVERAGE ANNUAL TOTAL RETURNS % as of 06-30-2015

  1-year 3-year 5-year 10-year Inception
NAV 0.02 0.02 0.02 0.86 2.14

Lipper Tax-Exempt Money Market Funds Average

  1-year 3-year 5-year 10-year Inception
  0.02 0.02 0.02 0.89 --

Important disclosure

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.
Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Returns for periods of less than one year are not annualized.

The adviser has committed to certain fee waivers and/or expense reimbursements. These reductions may be discontinued at any time. If fees had not been waived, the 7-Day current yield would have been -0.55%, and the total return would have been lower.
Source: Lipper, Inc. The Lipper Tax-Exempt Money Market Funds Average is an average of funds that invest in high quality municipal obligations with dollar weighted average maturities of less than 90 days. These funds intend to keep a constant net asset value. The total return of the Lipper Average does not include the effect of sales charges. You cannot invest directly in a Lipper Average.

HOLDINGS

TOP HOLDINGS % of net assets as of 07-31-2015

Clipper Tax-Exempt Certified Trust Series 2007-26 2.90%
California Statewide CDA Gas Supply Project Series 2010 2.80%
West Palm Beach FL Utilities Systems Series 2008C 2.23%
Deutsche Bk Spears/lifers Trva Due Adjustable Var 2.09%
NEW YORK ST HSG FIN AGY REVENU NYSHSG 05/48 ADJUSTABLE VAR 2.04%
Iowa St Fin Auth Midwestern Ec Iasdev 06/39 Adjustable Var 2.02%
NEW YORK CITY NY MUNI WTR FINA NYCUTL 06/49 ADJUSTABLE VAR, 0.01%, 2015-08-03 1.89%
Credit Agricole Repo, 0.13%, 2015-08-03 1.78%
SOUTH CAROLINA ST ASSN OF GOVT SCSGEN 04/16 FIXED 1.5 1.52%
MERCER CNTY N D POLLUTN, 0.10%, 2015-08-06 1.47%
Portfolio holdings are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS


Jeffrey L. Weaver, CFA

Jeffrey L. Weaver, CFA
Years of investment
experience: 24

 

James Randazzo

James Randazzo
Years of investment
experience: 22


The Fund

The National Tax-Free Money Market Fund seeks current income exempt from federal income tax, while preserving capital and liquidity.

Strategies

  • Focuses primarily on preserving capital and maintaining a high level of liquidity by emphasizing fundamental credit research and risk management to actively manage a portfolio of high-quality, short-term municipal obligations that are issued by or on behalf of states, territories, and possessions of the U.S. or their political subdivisions or financing authorities.
  • Purchases only First Tier securities across a range of eligible money market instruments that may have fixed, floating, or variable rates of interest, such as variable-rate demand notes.
  • Manages the fund in a tax-sensitive manner likely to generate an attractive tax-equivalent yield compared with taxable money market funds by investing primarily in municipal obligations that pay interest exempt from federal income tax and the federal alternative minimum tax (AMT).

Risks

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

Figures quoted represent past performance, which is no guarantee of future results. Investment returns will fluctuate. The fund's yield figures more closely reflect the current earnings of the fund than the total return figures. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available at the funds' website, wellsfargo.com/advantagefunds.

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