Agenda Packets - 1997/10/06 - Laserfiche WebLink

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THE TRUST AND THE FUNDS • The 4M Liquid Asset Fund and the 4M PLUS Fund (each a "Fund" and, together, the "Funds") are distinct investment portfolios within the Minnesota Municipal Money Market Fund (the "Trust"), a common law trust organized and existing in accordance with the Minnesota Joint Powers Act (Minnesota Statutes, Section 471.59) (the "Joint Powers Act"). The Trust and the Liquid Asset Fund were created in 1987, and the PLUS Fund was created in November 1996. Each Fund is independent of the other. Neither the Liquid Asset Fund nor the PLUS Fund will constitutes security or collateral for obligations of the other, except as may be described in the Declaration of Trust. Only "Municipalities" (defined to include Minnesota cities, counties, towns, public authorities, public corporations, public commissions, special districts and public instrumentalities, each as defined in the Joint Powers Act) are permitted to open accounts and become participants ("Participants") in either or both Funds. The address of the Trust is: Minnesota Municipal Money Market Fund do Insight Investment Management 60 South Sixth Street Minneapolis,MN 55402 INVESTMENT OBJECTIVES AND POLICIES • Investment Objectives Each Fund seeks to provide Participants with safety and stability of principal, liquidity and, within the stringent investment policies and limitations set forth below, a competitive yield. No assurance can be given that either Fund will achieve its investment objective or that any benefits described in this Information Statement will result from placement of assets in either Fund. Each Fund will employ the same investments and investment techniques. However, the PLUS Fund's objective will be to provide Participants with a somewhat enhanced investment yield (compared with that of the Liquid Asset Fund) by having a somewhat longer average portfolio maturity than the Liquid Asset Fund. The PLUS Fund will seek to achieve a longer average portfolio maturity by requiring that Participants agree to an initial 30-day investment period with respect to each investment, after which redemptions may be made upon one Minnesota banking day's notice. Participants in the Liquid Asset Fund will not have to agree to an initial 30-day investment period and may effect redemptions from the Fund at any time. Each Fund seeks to maintain a stable net asset value of$1.00 per share; however, there can be no assurance that either Fund will be able to continually achieve this goal. An investment in either Fund is not a deposit or obligation of, or guaranteed or endorsed by, any bank and is not insured or guaranteed by the U.S. Government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other federal or state agency or instrumentality. For a discussion of the expenses to which Participants of each Fund are indirectly subject, i see"Expenses." -3-