The fund seeks to provide preservation of capital, liquidity, and, consistent with these objectives, the highest level of income exempt from federal and Maryland state and local income taxes.
The fund will invest at least 65% of total assets in Maryland municipal securities. All securities held by the fund will mature in 13 months or less, and the fund's weighted maturity average will not exceed 60 days.
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The money fund offers Maryland-based investors stability of principal, liquidity, and triple-tax free income. The fund seeks to maintain a stable net asset value and provide an appropriate place to put money between investments or during uncertain market conditions. The Maryland Tax-Free Money Fund offers lower risk and reward potential than the Maryland Tax-Free Bond and the Maryland Short-Term Tax-Free Bond Funds.
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Beginning October 14, 2016, the Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.