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Objective

Seeks to provide current income while maintaining liquidity and a stable share price of $1.

Strategy

The Money Market Fund invests in U.S. Treasury securities and seeks to provide current income and preserve shareholders’ principal investment by maintaining a share price of $1. Although the fund invests in short-term U.S. Treasury bills, the amount of income that a shareholder may receive will be largely dependent on the current interest rate environment. The net return will be the result of general Treasury money market funds performance less investment and administration expenses.

The Money Market Fund is one of the most conservative of MMBB’s investment options. There is a high probability that returns will be consistently positive. There is very little risk of loss of your original investment, over either the short term or the long term. Note, however, that “little risk” does not mean “no risk.” See the Risks section for more information on this topic.

All securities investments risk the loss of capital.

This fund is unlikely to provide meaningful long-term growth of capital.

Although there is a high probability of returns being consistently positive, over time returns are likely to be considerably lower than other investment options.

The return of this fund may not keep pace with inflation, eroding purchasing power of the original investment.

In a declining interest rate environment, the return generated by this fund will be reduced. It is possible that the fund can experience negative returns as a result of interest income being insufficient to offset expenses of the fund.

One of the Money Market Fund’s primary risks is an extremely low interest rate environment. In 2009 and 2010, for example, short-term interest rates were nearly zero. During this time period fund expenses outweighed investment return and the fund actually experienced slightly negative net performance. In response, MMBB voluntarily waived its 50 basis point (0.50%) administrative charge. Had MMBB not waived its administrative charge, performance would have been less than reported in the Fund Performance tab. There is a risk that should a similarly low interest rate environment occur in the future MMBB might not elect to waive its administrative charge. In such a case, expenses could outweigh income, resulting in a member’s account value declining.

*If you are uncomfortable with the risks associated with the Money Market Fund, you may want to consider another MMBB investment option.*

The information contained herein is for general purpose only. The use of our information should be based on your due diligence and MMBB will not be liable for any success of failure that is directly or indirectly related to the use of the information contained herein. MMBB assumes no responsibility for errors or omissions in the content herein. The information contained herein does not constitute a complete description of our investment services and it does not constitute any tax, legal, financial, or investment advice. In no event shall, MMBB be liable for any special, direct, indirect, consequential, or incidental damages, or any damages whatsoever, whether in action of contract, negligence or tort, arising out of or in connection with the use of the information contained herein.

Below is the performance of the Money Market Fund for varying lengths of time. The longer the time period, the more likely it encompasses varying economic and market conditions.
TOTAL RETURN AS OF September 28, 2020
1 Day YTD 1 Year 3 Years 5 Years 10 Years
0.00% 0.40% 0.80% 1.27% 0.93% 0.48%
While it is valuable to view investment performance over long-term time horizons, looking at shorter time periods can give one insight as to how returns may fluctuate over shorter time periods. The table below displays calendar year returns.
CALENDAR YEAR RETURNS
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
-0.16% 0.00% 0.08% 0.05% 0.03% 0.05% 0.30% 0.79% 1.38% 1.79%
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; performance through the current date may be lower or higher than displayed above due to market fluctuations, manager performance or other reasons.

Total Annual Expenses

Total Estimated Fund Expenses
Investment Management Fees0.09%
MMBB Administrative Charge0.00%*
Other Expenses0.13%
Total Estimated Annual Expenses0.22%

*With all MMBB fund offerings, there are no sales charges on purchases, deferred sales charges, short-term or other redemption fees, distribution or 12b-1 fees, dealer commissions or low-balance account service fees.

Due to the exceptionally low-interest-rate environment, MMBB has waived the .50% administrative expenses associated with the Money Market Fund.