RiverSource Government Money Market Fund

Size: px
Start display at page:

Download "RiverSource Government Money Market Fund"

Transcription

1 Semiannual Report RiverSource Government Money Market Fund Semiannual Report for the Period Ended June 30, 2010 RiverSource Government Money Market Fund seeks to preserve capital and to maximize liquidity and current income. Not FDIC insured m No bank guarantee m May lose value

2 Letter to Shareholders Dear Fellow Shareholders, On April 30, 2010, Ameriprise Financial, Inc., the parent company of RiverSource Investments, LLC, acquired the long-term asset management business of Columbia Management Group, LLC, bringing together the fund families of Columbia Management and RiverSource Investments. This transaction combines two leading asset management firms and creates one entity that, as of March 31, 2010 data (Source: ICI), is the eighth largest manager of long-term mutual fund assets in the U.S. The investment manager for our funds, RiverSource Investments, LLC, will remain the same, but its name has changed to Columbia Management Investment Advisers, LLC. You will soon begin to see re-branding take effect on communications and statements as the integration of RiverSource and Columbia gets underway. I want you, as a valued shareholder, to know that our goals as Directors of the Fund are to ensure a smooth transition and to provide you and all our fellow shareholders with the highest quality products and services. The Board of your Fund will work closely with Columbia Management in this effort, and we will keep you informed as the integration of these two great firms progresses and key decisions are made. Throughout the transition, we will all seek to build on best practices from both legacy organizations with enhancements to productivity, quality and the delivery of world-class customer experiences. The new President of our funds is J. Kevin Connaughton. Kevin was a managing director and head of mutual funds for Columbia Management, responsible for the day-to-day delivery of mutual fund products and services. We are pleased to have Kevin continue in this role for the new combined organization. THIS PAGE IS NOT PART OF THE SEMIANNUAL REPORT

3 The combined organization offers a comprehensive choice of investment products managed by a diverse group of dedicated investment teams. They share a passion for investing and a commitment to delivering a consistent investment experience. Their approach is distinguished by a singular focus on fund shareholders. The Directors of your Fund look forward to working with them as they continue to support your investment needs. Stephen R. Lewis, Jr. Chairman of the Board Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. For a free prospectus, which contains this and other important information about the funds, call Read the prospectus carefully before investing. RiverSource@, Seligman@ and Threadneedle@ mutual funds are distributed by Columbia Management Investment Distributors, Inc. (formerly known as RiverSource Fund Distributors, Inc.), member FINRA and managed by Columbia Management Investment Advisers, LLC (formerly known as RiverSource Investments, LLC). Threadneedle mutual funds are subadvised by Threadneedle International Limited, an affiliate of Columbia Management. Seligman is an offering brand of Columbia Management Columbia Management Investment Advisers, LLC. All rights reserved. For more information about any of the Funds, go online through September 26, 2010 to riversource.com (for RiverSource and Threadneedle funds) or seligman.com (for Seligman funds) and thereafter columbiamanagement.com for all funds; or call Customer Service Representatives are available to answer your questions Monday through Friday from 7 a.m. to 6 p.m. Central time. THIS PAGE IS NOT PART OF THE SEMIANNUAL REPORT

4 Table of Contents Your Fund at a Glance Fund Expenses Example....6 Portfolio of Investments....8 Statement of Assets and Liabilities Statement of Operations Statements of Changes in Net Assets...14 Financial Highlights Notes to Financial Statements Approval of Investment Management Services Agreement Proxy Voting RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

5 Your Fund at a Glance (Unaudited) FUND SUMMARY H RiverSource Government Money Market Fund (the Fund) Class A shares returned 0.00% for the six months ended June 30, H The Fund s annualized simple yield was 0.01% and the annualized compound yield was 0.01% for the seven-day period ended June 30, These yields more closely reflect the current earnings of the Fund than the total return. ANNUALIZED TOTAL RETURNS (for period ended June 30, 2010) 6 months (a) 1 year 3 years 5 years 10 years RiverSource Government Money Market Fund Class A +0.00% (b) +0.01% +1.04% +2.10% +1.88% The performance information shown represents past performance and is not a guarantee of future results. The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by contacting your financial intermediary, visiting riversource.com/funds (through September 26, 2010) and thereafter columbiamanagement.com or calling The Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the Fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the Fund. Yields will fluctuate. The seven-day current yield more closely reflects the current earnings of the Fund than the total return. The performance of other classes may vary from that shown because of differences in fees and expenses. The Fund s returns reflect the effect of fee waivers/ expense reimbursements, if any. Without such waivers/reimbursements, the Fund s returns would be lower. See the Average Annual Total Returns table for performance of other share classes of the Fund. (a) Not annualized. (b) Rounds to less than 0.01%. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 3

6 Your Fund at a Glance (continued) AVERAGE ANNUAL TOTAL RETURNS at June 30, 2010 Without sales charge 6 months (a) 1 year 3 years 5 years 10 years Since Inception (b) Class A (inception 1/31/77) +0.00% (c) +0.01% +1.04% +2.10% +1.88% N/A Class B (inception 4/22/96) +0.00% (c) +0.01% +0.60% +1.39% +1.21% N/A Class C (inception 5/3/93) +0.00% (c) +0.01% +0.59% +1.39% +1.21% N/A Class R2 (inception 4/30/03) +0.00% (c) +0.01% +0.93% +1.93% N/A +1.48% Class R5 (inception 11/30/01) +0.01% +0.02% +1.17% +2.29% N/A +1.70% With sales charge Class B (inception 4/22/96) -5.00% -4.99% -0.40% +1.01% +1.21% N/A Class C (inception 5/3/93) -1.00% -0.99% +0.59% +1.39% +1.21% N/A Sales charges do not apply to Class A, Class R2 and Class R5 shares. Class B share performance reflects a contingent deferred sales charge (CDSC) applied as follows: first year 5%; second year 4%; third and fourth years 3%; fifth year 2%; sixth year 1%; no sales charge thereafter. Class C shares may be subject to a 1% CDSC if shares are sold within one year after purchase. Class R2 and Class R5 are available to qualifying institutional investors only. (a) Not annualized. (b) For classes with less than 10 years performance. (c) Rounds to less than 0.01%. 4 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

7 PORTFOLIO BREAKDOWN (1) (at June 30, 2010) Municipal Notes 3.2% Repurchase Agreements 23.4% U.S. Government Agencies 66.8% U.S. Government Obligations & Agencies 6.6% (1) Percentages indicated are based upon total investments. The Fund s composition is subject to change. An investment in money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to maintain the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 5

8 Fund Expenses Example (Unaudited) As a shareholder of the Fund, you incur two types of costs: (i) transaction costs, including sales charges (loads) on purchase payments; and (ii) ongoing costs, which may include management fees; distribution and service (Rule 12b-1) fees; and other Fund fees and expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the six months ended June 30, Actual Expenses The first line of the table provides information about actual account values and actual expenses for each class. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled Expenses paid during the period to estimate the expenses you paid on your account during this period. Hypothetical Example for Comparison Purposes The second line of the table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for each class and an assumed rate of return of 5% per year before expenses, which is not the actual return for the class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. 6 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

9 Beginning account value Jan. 1, 2010 Ending account value June 30, 2010 Expenses paid during the period (a) Annualized expense ratio Class A Actual (b) $1,000 $1, $0.79 (c).16% (c) Hypothetical (5% return before expenses) $1,000 $1, $0.80 (c).16% (c) Class B Actual (b) $1,000 $1, $0.74 (c).15% (c) Hypothetical (5% return before expenses) $1,000 $1, $0.75 (c).15% (c) Class C Actual (b) $1,000 $1, $0.74 (c).15% (c) Hypothetical (5% return before expenses) $1,000 $1, $0.75 (c).15% (c) Class R2 Actual (b) $1,000 $1, $0.74 (c).15% (c) Hypothetical (5% return before expenses) $1,000 $1, $0.75 (c).15% (c) Class R5 Actual (b) $1,000 $1, $0.79 (c).16% (c) Hypothetical (5% return before expenses) $1,000 $1, $0.80 (c).16% (c) (a) Expenses are equal to the annualized expense ratio for each class as indicated above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). (b) Based on the actual return for the six months ended June 30, 2010: +0.00%* for Class A, +0.00%* for Class B, +0.00%* for Class C, +0.00%* for Class R2 and +0.01% for Class R5. (c) From time to time, Columbia Management Investment Advisers, LLC (formerly RiverSource Investments, LLC) (the Investment Manager) and its affiliates may limit the expenses of the Fund for the purpose of increasing the yield. This expense limitation policy may be revised or terminated at any time without notice. Had the Investment Manager not limited the expenses of the Fund during the six months ended June 30, 2010, the annualized expense ratio would have been 0.66% for Class A, 1.32% for Class B, 1.31% for Class C, 0.98% for Class R2 and 0.48% for Class R5. The actual expenses paid would have been $3.27 for Class A, $6.55 for Class B, $6.50 for Class C, $4.86 for Class R2, and $2.38 for Class R5; the hypothetical expenses paid would have been $3.31 for Class A, $6.61 for Class B, $6.56 for Class C, $4.91 for Class R2 and $2.41 for Class R5. * Rounds to less than 0.01%. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 7

10 Portfolio of Investments June 30, 2010 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in Securities U.S. Government Agencies (66.9%) Issuer Effective yield Amount payable at maturity Value(a) Federal Home Loan Bank Discount Notes % $7,000,000 $6,999, ,000,000 4,999, ,000,000 3,999, ,000,000 2,999, ,000,000 12,998, ,400,000 2,399,544 Federal Home Loan Mortgage Corp. Discount Notes ,000,000 4,999, ,000,000 3,999, ,500,000 2,499, ,000,000 4,999, ,000,000 1,998,556 Federal National Mortgage Association Discount Notes ,100,000 6,099, ,000,000 4,999, ,900,000 8,899, ,600,000 7,599, ,000,000 5,998,275 U.S. Treasury Bills ,000,000 4,999, ,000,000 9,998,756 Total U.S. Government Agencies (Cost: $101,488,511) $101,488,511 Repurchase Agreements (23.4%) Issuer Effective yield Amount payable at maturity Value(a) Brokerage Barclays Bank PLC dated , matures 7/01/10, repurchase price $35,500,010 (collateralized by: U.S. Treasury STRIPS total market value $35,500,067) % $35,500,000 $35,500,000 Total Repurchase Agreements (Cost: $35,500,000) $35,500,000 Municipal Notes (3.2%) Issue description (b,c) Effective yield Amount payable at maturity Value(a) Milwaukee Redevelopment Authority Revenue Bonds La Causa, Inc. Project V.R.D.N. Series 2000 (U.S. Bank) % $2,360,000 $2,360,000 New Hampshire Health & Education Facilities Authority Revenue Bonds Dartmouth College V.R.D.N. Series 2007A (JP Morgan Chase Bank) ,490,000 2,490,000 Total Municipal Notes (Cost: $4,850,000) $4,850,000 See accompanying Notes to Portfolio of Investments. 8 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

11 Bonds (6.6%) Issuer Coupon rate Principal amount Value(a) U.S. Government Obligations & Agencies Federal Home Loan Bank % $5,000,000 $4,999, ,000,000 5,000,000 Total Bonds (Cost: $9,999,576) $9,999,576 Total Investments in Securities (Cost: $151,838,087)(d) $151,838,087 Notes to Portfolio of Investments (a) Securities are valued by using policies described in Note 2 to the financial statements. (b) The Fund is entitled to receive principal and interest from the party, if indicated in parentheses, after a day or a week s notice or upon maturity. The maturity date disclosed represents the final maturity. Interest rate varies to reflect current market conditions; rate shown is the effective rate on June 30, (c) The following abbreviations may be used in the portfolio descriptions: A.M.T. Alternative Minimum Tax B.A.N. Bond Anticipation Note C.P. Commercial Paper R.A.N. Revenue Anticipation Note T.A.N. Tax Anticipation Note T.R.A.N. Tax & Revenue Anticipation Note V.R. Variable Rate V.R.D.B. Variable Rate Demand Bond V.R.D.N. Variable Rate Demand Note (d) Also represents the cost of securities for federal income tax purposes at June 30, RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 9

12 Portfolio of Investments (continued) Fair Value Measurements Generally accepted accounting principles (GAAP) require disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund s assumptions about the information market participants would use in pricing an investment. An investment s level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset or liability s fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. Fair value inputs are summarized in the three broad levels listed below: Level 1 Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. Level 2 Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). Level 3 Valuations based on significant unobservable inputs (including the Fund s own assumptions and judgment in determining the fair value of investments). Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Fund Administrator, along with any other relevant factors in the calculation of an investment s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy. Short-term securities are valued using amortized cost, as permitted under Rule 2a-7 of the Investment Company Act of 1940, as amended. Generally, amortized cost approximates the current fair value of these securities, but because the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2. Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as 10 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

13 Fair Value Measurements (continued) Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models rely on one or more significant unobservable inputs and/or significant assumptions by the Fund Administrator. Inputs used in a valuation model may include, but are not limited to, financial statement analysis, discount rates and estimated cash flows, and comparable company data. The following table is a summary of the inputs used to value the Fund s investments as of June 30, 2010: Fair value at June 30, 2010 Description(a) Level 1 quoted prices in active markets for identical assets(b) Level 2 other significant observable inputs Level 3 significant unobservable inputs Total Short-Term Securities U.S. Government Agencies $ $101,488,511 $ $101,488,511 Repurchase Agreements 35,500,000 35,500,000 Total Short-Term Securities 136,988, ,988,511 Other Municipal Notes 4,850,000 4,850,000 Total Other 4,850,000 4,850,000 Bonds U.S. Government Obligations & Agencies 9,999,576 9,999,576 Total Bonds 9,999,576 9,999,576 Total $ $151,838,087 $ $151,838,087 (a) See the Portfolio of Investments for all investment classifications not indicated in the table. (b) There were no significant transfers between Levels 1 and 2 during the period. How to find information about the Fund s quarterly portfolio holdings (i) The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (Commission) for the first and third quarters of each fiscal year on Form N-Q; (ii) The Fund s Forms N-Q are available on the Commission s website at (iii) The Fund s Forms N-Q may be reviewed and copied at the Commission s Public Reference Room in Washington, DC (information on the operations of the Public Reference Room may be obtained by calling 800.SEC.0330); and (iv) The Fund s complete schedule of portfolio holdings, as filed on Form N-Q, can be obtained without charge, upon request, by calling RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 11

14 Statement of Assets and Liabilities June 30, 2010 (Unaudited) Assets Investments in securities, at value (identified cost $151,838,087) $151,838,087 Cash 310,189 Receivable from Investment Manager 4,071 Capital shares receivable 131,856 Accrued interest receivable 10,403 Other assets 3,719 Total assets 152,298,325 Liabilities Dividends payable to shareholders 359 Capital shares payable 428,369 Accrued investment management services fees 1,376 Accrued distribution fees 92 Accrued transfer agency fees 1,007 Accrued administrative services fees 250 Accrued plan administration services fees 1,708 Other accrued expenses 168,558 Total liabilities 601,719 Net assets applicable to outstanding capital stock $151,696,606 Represented by Capital stock $.01 par value $ 1,516,863 Additional paid-in capital 150,182,648 Excess of distributions over net investment income (2,621) Accumulated net realized gain (loss) (284) Total representing net assets applicable to outstanding capital stock $151,696,606 Net asset value per share Net assets Shares outstanding Net asset value per share Class A $127,368, ,379,196 $1.00 Class B $ 4,466,688 4,465,262 $1.00 Class C $ 15,415,936 15,395,986 $1.00 Class R2 $ 4,105,610 4,105,921 $1.00 Class R5 $ 339, ,950 $1.00 The accompanying Notes to Financial Statements are an integral part of this statement. 12 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

15 Statement of Operations Six months ended June 30, 2010 (Unaudited) Investment income Income: Interest $107,692 Income from securities lending net 1,345 Total income 109,037 Expenses: Investment management services fees 220,740 Distribution fees Class A 27,456 Class B 17,162 Class C 30,841 Class R2 2,423 Transfer agency fees Class A 115,179 Class B 5,020 Class C 15,534 Class R2 1,034 Class R5 56 Administrative services fees 40,134 Plan administration services fees Class R2 4,534 Compensation of board members 2,310 Custodian fees 3,745 Printing and postage 31,400 Registration fees 35,380 Professional fees 12,805 Other 28,527 Total expenses 594,280 Expenses waived/reimbursed by the Investment Manager and its affiliates (491,266) Total net expenses 103,014 Investment income (loss) net $ 6,023 The accompanying Notes to Financial Statements are an integral part of this statement. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 13

16 Statements of Changes in Net Assets Six months ended June 30, 2010 (Unaudited) Year ended Dec. 31, 2009 Operations and distributions Net increase (decrease) in net assets resulting from operations $ 6,023 $ 42,113 Distributions to shareholders from: Net investment income Class A (5,098) (37,211) Class B (205) (579) Class C (629) (1,493) Class C2* (65) Class R2 (180) (296) Class R5 (10) (4,990) Total distributions (6,122) (44,634) 14 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

17 Six months ended June 30, 2010 (Unaudited) Year ended Dec. 31, 2009 Capital share transactions at a constant $1 net asset value Proceeds from sales Class A shares $ 29,515,039 $ 111,251,313 Class B shares 1,367,164 2,700,244 Class C shares 7,797,817 9,024,006 Class R2 shares 1,901,170 3,308,763 Class R5 shares 211,069 12,630,747 Fund merger (Note 6) Class A shares 56,730,437 N/A Reinvestment of distributions at net asset value Class A shares 4,619 39,430 Class B shares Class C shares 575 1,298 Class C2 shares* N/A 56 Class R2 shares Class R5 shares 9 5,691 Conversions from Class B to Class A Class A shares 462, ,457 Class B shares (462,148) (789,457) Conversions from Class C2 to Class A* Class A shares N/A 2,491,332 Class C2 shares N/A (2,491,332) Payments for redemptions Class A shares (49,221,883) (148,817,648) Class B shares (1,183,938) (4,105,737) Class C shares (5,921,334) (12,056,427) Class C2 shares* N/A (359,865) Class R2 shares (929,757) (1,820,362) Class R5 shares (2) (32,945,721) Increase (decrease) in net assets from capital share transactions 40,271,334 (61,143,458) Total increase (decrease) in net assets 40,271,235 (61,145,979) Net assets at beginning of period 111,425, ,571,350 Net assets at end of period $151,696,606 $ 111,425,371 Excess of distributions over net investment income $ (2,621) $ (2,521) * Effective March 27, 2009, Class C2 shares converted to Class A shares. The accompanying Notes to Financial Statements are an integral part of this statement. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 15

18 Financial Highlights The following tables are intended to help you understand the Fund s financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total returns assume reinvestment of all dividends and distributions. Total returns do not reflect payment of sales charges, if any, and are not annualized for periods of less than one year. Six months ended Class A June 30, 2010 Year ended Dec. 31, Per share data (Unaudited) Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations: Net investment income (loss).00 (a).00 (a) Less distributions: Dividends from net investment income (.00) (a) (.00) (a) (.01) (b) (.04) (.04) (.02) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Total return.00% (c).03% 1.12% 4.09% 3.95% 2.20% Ratios to average net assets Gross expenses prior to expense waiver/ reimbursement.82% (d) 1.14%.91%.86%.90%.86% Net expenses after expense waiver/reimbursement (e).16% (d).25%.79%.86%.90%.86% Net investment income (loss).01% (d).03% 1.07% 4.03% 3.86% 2.15% Supplemental data Net assets, end of period (in millions) $127 $90 $124 $133 $124 $133 See accompanying Notes to Financial Highlights. 16 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

19 Six months ended Class B June 30, 2010 Year ended Dec. 31, Per share data (Unaudited) Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations: Net investment income (loss).00 (a).00 (a).00 (a) Less distributions: Dividends from net investment income (.00) (a) (.00) (a) (.00) (a),(b) (.03) (.03) (.01) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Total return.00% (c).01%.35% 3.00% 2.85% 1.11% Ratios to average net assets Gross expenses prior to expense waiver/reimbursement 1.54% (d) 1.99% 1.91% 1.86% 1.89% 1.86% Net expenses after expense waiver/reimbursement (e).15% (d).29% 1.53% 1.86% 1.89% 1.85% Net investment income (loss).01% (d).00% (c).33% 3.03% 2.86% 1.16% Supplemental data Net assets, end of period (in millions) $4 $5 $7 $7 $9 $13 See accompanying Notes to Financial Highlights. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 17

20 Financial Highlights (continued) Six months ended Class C June 30, 2010 Year ended Dec. 31, Per share data (Unaudited) Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations: Net investment income (loss).00 (a).00 (a).00 (a) Less distributions: Dividends from net investment income (.00) (a) (.00) (a) (.00) (a),(b) (.03) (.03) (.01) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Total return.00% (c).01%.35% 3.00% 2.85% 1.11% Ratios to average net assets Gross expenses prior to expense waiver/reimbursement 1.21% (d) 1.96% 1.91% 1.86% 1.89% 1.86% Net expenses after expense waiver/reimbursement (e).15% (d).28% 1.53% 1.86% 1.89% 1.85% Net investment income (loss).01% (d).00% (c).33% 3.03% 2.86% 1.16% Supplemental data Net assets, end of period (in millions) $15 $14 $17 $14 $13 $13 See accompanying Notes to Financial Highlights. 18 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

21 Six months ended Class R2 June 30, 2010 Year ended Dec. 31, Per share data (Unaudited) Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations: Net investment income (loss).00 (a).00 (a) Less distributions: Dividends from net investment income (.00) (a) (.00) (a) (.01) (b) (.04) (.04) (.02) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Total return.00% (c).01%.93% 3.83% 3.69% 1.94% Ratios to average net assets Gross expenses prior to expense waiver/ reimbursement 1.01% (d) 1.32% 1.16% 1.11% 1.15% 1.11% Net expenses after expense waiver/reimbursement (e).15% (d).22% 1.01% 1.11% 1.15% 1.11% Net investment income (loss).01% (d).00% (c).84% 3.78% 3.61% 1.90% Supplemental data Net assets, end of period (in millions) $4 $3 $2 $1 $ $ See accompanying Notes to Financial Highlights. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 19

22 Financial Highlights (continued) Six months ended Class R5 June 30, 2010 Year ended Dec. 31, Per share data (Unaudited) Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations: Net investment income (loss).00 (a).00 (a) Less distributions: Dividends from net investment income (.00) (a) (.00) (a) (.01) (b) (.04) (.04) (.02) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Total return.01%.03% 1.38% 4.36% 4.23% 2.48% Ratios to average net assets Gross expenses prior to expense waiver/ reimbursement.61% (d).94%.63%.59%.60%.58% Net expenses after expense waiver/reimbursement (e).16% (d).36%.53%.59%.60%.58% Net investment income (loss).01% (d).06% 1.33% 4.30% 4.16% 2.43% Supplemental data Net assets, end of period (in millions) $ $ $20 $15 $12 $13 Notes to Financial Highlights (a) Rounds to less than $0.01 per share. (b) In addition, the Fund paid a short-term capital gain distribution of $ on July 25, (c) Rounds to less than 0.01%. (d) Annualized. (e) The Investment Manager and its affiliates agreed to waive/reimburse certain fees and expenses. The accompanying Notes to Financial Statements are an integral part of this statement. 20 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

23 Notes to Financial Statements (Unaudited as of June 30, 2010) 1. ORGANIZATION RiverSource Government Money Market Fund, Inc. (formerly Seligman Cash Management Fund) (the Fund) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, open-end management investment company. The Fund has 1.4 billion authorized shares of capital stock. The Fund will normally invest at least 80% of its net assets in high-quality, shortterm money market securities that are issued or guaranteed by the U.S. government, its agencies or instrumentalities. The Fund offers Class A, Class B, Class C, Class R2 and Class R5 shares. Class A shares have no sales charge. Class B shares may be subject to a contingent deferred sales charge (CDSC) and automatically convert to Class A shares one month after the completion of the eighth year of ownership if originally purchased in a RiverSource fund on or after May 21, 2005 or originally purchased in a Seligman fund on or after June 13, Class B shares originally purchased in a RiverSource fund prior to May 21, 2005 will convert to Class A shares in the ninth calendar year of ownership. Class B shares originally purchased in a Seligman fund prior to June 13, 2009 will convert to Class A shares in the month prior to the ninth year of ownership. Effective Sept. 7, 2010, the Fund will not accept investments from new or existing investors in the Fund s Class B shares, except that (i) dividend and/or capital gain distributions may continue to be reinvested in Class B shares of the Fund and (ii) shareholders invested in Class B shares of the Fund may exchange those shares for Class B shares of other Columbia, Columbia Acorn, RiverSource, Seligman and Threadneedle funds offering such shares. Class C shares may be subject to a CDSC. Class R2 and Class R5 shares are offered without a front-end sales charge or CDSC to qualifying institutional investors. All classes of shares have identical voting, dividend and liquidation rights. Class specific expenses (e.g., distribution and service fees, transfer agency fees, plan administration services fees) differ among classes. Income, expenses (other than class specific expenses) and realized and unrealized gains or losses on investments are allocated to each class of shares based upon its relative net assets. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 21

24 Notes to Financial Statements (continued) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of estimates Preparing financial statements that conform to U.S. generally accepted accounting principles requires management to make estimates (e.g., on assets, liabilities and contingent assets and liabilities) that could differ from actual results. Valuation of securities Pursuant to Rule 2a-7 of the 1940 Act, all securities are valued daily at amortized cost, which approximates market value. Guarantees and indemnifications Under the Fund s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, certain of the Fund s contracts with its service providers contain general indemnification clauses. The Fund s maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined and the Fund has no historical basis for predicting the likelihood of any such claims. Federal taxes The Fund s policy is to comply with Subchapter M of the Internal Revenue Code that applies to regulated investment companies and to distribute substantially all of its taxable income (which includes net short-term capital gains) to shareholders. No provision for income or excise taxes is thus required. Management of the Fund has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Generally, the tax authorities can examine all tax returns filed for the last three years. Dividends to shareholders Dividends from net investment income, declared daily and payable monthly, are reinvested in additional shares of the Fund at net asset value or payable in cash. Other Security transactions are accounted for on the date securities are purchased or sold. Interest income, including amortization of premium and discount, is recognized daily. 22 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

25 3. EXPENSES AND SALES CHARGES Investment management services fees Under an Investment Management Services Agreement, Columbia Management Investment Advisers, LLC (formerly known as RiverSource Investments, LLC) (the Investment Manager) determines which securities will be purchased, held or sold. The management fee is an annual fee that is equal to a percentage of the Fund s average daily net assets that declines from 0.33% to 0.15% as the Fund s net assets increase. The management fee for the six months ended June 30, 2010 was 0.33% of the Fund s average daily net assets. Administrative services fees Under an Administrative Services Agreement, the Fund pays Ameriprise Financial an annual fee for administration and accounting services equal to a percentage of the Fund s average daily net assets that declines from 0.06% to 0.03% as the Fund s net assets increase. The fee for the six months ended June 30, 2010 was 0.06% of the Fund s average daily net assets. Other fees Other expenses are for, among other things, certain expenses of the Fund or the Fund s Board of Directors (the Board) including: Fund boardroom and office expense, employee compensation, employee health and retirement benefits, and certain other expenses. Payment of these Fund and Board expenses is facilitated by a company providing limited administrative services to the Fund and the Board. For the six months ended June 30, 2010, there were no expenses incurred for these particular items. Compensation of board members Under a Deferred Compensation Plan (the Plan), the board members who are not interested persons of the Fund under the 1940 Act may defer receipt of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of the Fund or other RiverSource, Seligman and Threadneedle funds. The Fund s liability for these amounts is adjusted for market value changes and remains in the funds until distributed in accordance with the Plan. Transfer agency fees Under a Transfer Agency Agreement, Columbia Management Investment Services Corp. (formerly known as RiverSource Service Corporation) (the Transfer Agent) maintains Fund shareholder accounts and records and provides Fund shareholder services. The Fund pays the Transfer Agent an annual accountbased fee at a rate equal to $22.00 for Class A, $23.00 for Class B and $22.50 for Class C for this service. The Transfer Agent also charges an annual fee of $3 per account serviced directly by the Fund or its designated agent for Class A, RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 23

26 Notes to Financial Statements (continued) Class B and Class C shares. The Fund also pays the Transfer Agent an annual asset-based fee at a rate of 0.05% of the Fund s average daily net assets attributable to Class R2 and Class R5 shares. The Transfer Agent charges an annual fee of $5 per inactive account, charged on a pro rata basis for the 12 month period from the date the account becomes inactive. The Transfer Agent also receives reimbursement for certain out-of-pocket expenses. These fees are included in the transfer agency fees in the Statement of Operations. The Fund and certain other associated investment companies (together, the Guarantors) have severally, but not jointly, guaranteed the performance and observance of all the terms and conditions of a lease entered into by Seligman Data Corp. (SDC), the former transfer agent, including the payment of rent by SDC (the Guaranty). The lease and the Guaranty expire in January At June 30, 2010, the Fund s total potential future obligation over the life of the Guaranty is $193,665. The liability remaining at June 30, 2010 for Non- Recurring Charges amounted to $99,100 and is included within other accrued expenses in the Statement of Assets and Liabilities. SDC is owned by six associated investment companies, including the Fund. The Fund s ownership interest in SDC at June 30, 2010 is included in other assets in the Statement of Assets and Liabilities at cost of $3,719. Plan administration services fees Under a Plan Administration Services Agreement with the Transfer Agent, the Fund pays an annual fee at a rate of 0.25% of the Fund s average daily net assets attributable to Class R2 shares for the provision of various administrative, recordkeeping, communication and educational services. Distribution fees The Fund has an agreement with Columbia Management Investment Distributors, Inc. (formerly known as RiverSource Fund Distributors, Inc.) (the Distributor) for distribution and shareholder services. Under a Plan and Agreement of Distribution pursuant to Rule 12b-1, the Fund pays a fee at an annual rate of up to 0.25% and 0.50% of the Fund s average daily net assets attributable to Class A and Class R2 shares, respectively, and a fee at an annual rate of up to 1.00% of the Fund s average daily net assets attributable to Class B and Class C shares. For Class B and Class C shares, of the 1.00% fee, up to 0.75% was reimbursed for distribution expenses. For the six months ended June 30, 2010, the Distributor agreed not to be reimbursed by the Fund for distribution (12b-1) fees equal to 0.75% of the 1.00% fee for Class B shares. For the period from Jan. 1, 2010 through April 15, 2010, the Distributor agreed not to be reimbursed by the Fund for distribution (12b-1) fees equal to 0.10% of the 0.25% fee for Class A shares and Class C shares and 0.25% of the 0.50% fee for Class R2 shares. Effective 24 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

27 April 15, 2010, the Distributor agreed not to be reimbursed by the Fund for the entire amount of distribution (12b-1) fees it receives from Class A, Class C and Class R2 shares. The amount of distribution expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $118,000 and $3,024,000 for Class B and Class C shares, respectively. These amounts are based on the most recent information available as of April 30, 2010, and may be recovered from future payments under the distribution plan or CDSC. To the extent the unreimbursed expense has been fully recovered, the distribution fee is reduced. Sales charges CDSCs received by the Distributor for distributing Fund shares were $4,294 for Class B and $1,053 for Class C for the six months ended June 30, Expenses waived/reimbursed by the Investment Manager and its affiliates For the six months ended June 30, 2010, the Investment Manager and its affiliates waived/reimbursed certain fees and expenses such that net expenses were as follows: Class A % Class B Class C Class R Class R The waived/reimbursed fees and expenses for the transfer agency fees and other fees at the class level were as follows: Class A...$142,635 Class B... 22,182 Class C... 46,375 Class R2... 7,991 Class R The management fees and other Fund level expenses waived/reimbursed were $272,027. The Investment Manager and its affiliates have contractually agreed to waive certain fees and reimburse certain expenses until Feb. 28, 2011, unless sooner RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 25

28 Notes to Financial Statements (continued) terminated at the sole discretion of the Board, such that net expenses will not exceed the following percentage of the class average daily net assets: Class A % Class B Class C Class R Class R In addition, from time to time, the Investment Manager and its affiliates may waive or absorb expenses of the Fund for the purpose of allowing the Fund to avoid a negative net yield or to increase the Fund s positive net yield. The Fund s yield would be negative if Fund expenses exceed Fund income. Any such expense limitation is voluntary and may be revised or terminated at any time without notice. 4. LENDING OF PORTFOLIO SECURITIES The Fund has entered into a Master Securities Lending Agreement (the Agreement) with JPMorgan Chase Bank, National Association (JPMorgan). The Agreement authorizes JPMorgan as lending agent to lend securities to authorized borrowers in order to generate additional income on behalf of the Fund. Pursuant to the Agreement, the securities loaned are secured by cash or U.S. government securities equal to at least 100% of the market value of the loaned securities. Any additional collateral required to maintain those levels due to market fluctuations of the loaned securities is delivered the following business day. Cash collateral received is invested by the lending agent on behalf of the Fund into authorized investments pursuant to the Agreement. The investments made with the cash collateral are listed in the Portfolio of Investments. The values of such investments and any uninvested cash collateral are disclosed in the Statement of Assets and Liabilities along with the related obligation to return the collateral upon the return of the securities loaned. At June 30, 2010, the Fund had no securities on loan. Risks of delay in recovery of securities or even loss of rights in the securities may occur should the borrower of the securities fail financially. Risks may also arise to the extent that the value of the securities loaned increases above the value of the collateral received. JPMorgan will indemnify the Fund from losses resulting from a borrower s failure to return a loaned security when due. Such indemnification does not extend to losses associated with declines in the value of cash collateral investments. Loans are subject to termination by the Fund or the borrower at any time, and are, therefore, not considered to be illiquid investments. 26 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

29 Pursuant to the Agreement, the Fund receives income for lending its securities either in the form of fees or by earning interest on invested cash collateral, net of negotiated rebates paid to borrowers and fees paid to the lending agent for services provided and any other securities lending expenses. Net income of $1,345 earned from securities lending for the six months ended June 30, 2010 is included in the Statement of Operations. The Fund also continues to earn interest and dividends on the securities loaned. 5. BANK BORROWINGS The Fund has entered into a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A. (the Administrative Agent), whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. The credit facility agreement, which is a collective agreement between the Fund and certain other RiverSource, Seligman and Threadneedle funds, severally and not jointly, permits collective borrowings up to $300 million. The borrowers shall have the right, upon written notice to the Administrative Agent to request an increase of up to $200 million in the aggregate amount of the credit facility from new or existing lenders, provided that the aggregate amount of the credit facility shall at no time exceed $500 million. Participation in such increase by any existing lender shall be at such lender s sole discretion. Interest is charged to the Fund based on its borrowings at a rate equal to the sum of the federal funds rate plus (i) 1.25% per annum plus (ii) if one-month LIBOR exceeds the federal funds rate, the amount of such excess. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the amount of the credit facility at a rate of 0.10% per annum, in addition to an upfront fee equal to its pro rata share of 0.04% of the amount of the credit facility. The Fund had no borrowings during the six months ended June 30, FUND MERGER At the close of business on March 26, 2010, RiverSource Government Money Market Fund acquired the assets and assumed the identified liabilities of RiverSource Tax-Exempt Money Market Fund. The reorganization was completed after shareholders approved the plan on March 10, The aggregate net assets of RiverSource Government Money Market Fund immediately before the acquisition were $107,077,716 and the combined net assets immediately after the acquisition were $163,808,153. RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT 27

30 Notes to Financial Statements (continued) The merger was accomplished by a tax-free exchange of 56,730,372 shares of RiverSource Tax-Exempt Money Market Fund valued at $56,730,437. In exchange for RiverSource Tax-Exempt Money Market Fund shares and net assets, RiverSource Government Money Market Fund issued 56,730,372 Class A shares. For financial reporting purposes, net assets received and shares issued by RiverSource Government Money Market Fund were recorded at fair value; however, RiverSource Tax-Exempt Money Market Fund s cost of investments was carried forward to align ongoing reporting of RiverSource Government Money Market Fund s realized and unrealized gains and losses with amounts distributable to shareholders for tax purposes. The components of RiverSource Tax-Exempt Money Market Fund s net assets at the merger date were as follows: Total net assets...$56,730,437 Capital stock....$56,730,722 Excess of distributions over net investment income...$ (1) Accumulated net realized loss...$ (284) The financial statements reflect the operations of RiverSource Government Money Market Fund for the period prior to the merger and the combined fund for the period subsequent to the merger. Because the combined investment portfolios have been managed as a single integrated portfolio since the merger was completed, it is not practicable to separate the amounts of revenue and earnings of RiverSource Tax-Exempt Money Market Fund that have been included in the combined Fund s Statement of Operations since the merger was completed. Assuming the merger had been completed on Jan. 1, 2010, RiverSource Government Money Market Fund s pro-forma net investment loss, net gain on investments, and net decrease in net assets from operations for the six months ended June 30, 2010 would have been $(1.1) million, $255 and $(1.1) million, respectively. 7. FEDERAL TAX INFORMATION Net investment income (loss) and net realized gains (losses) may differ for financial statement and tax purposes. The character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Fund. 28 RIVERSOURCE GOVERNMENT MONEY MARKET FUND 2010 SEMIANNUAL REPORT

June 30, Semiannual Report. Deutsche DWS Variable Series II. (formerly Deutsche Variable Series II) DWS Government Money Market VIP

June 30, Semiannual Report. Deutsche DWS Variable Series II. (formerly Deutsche Variable Series II) DWS Government Money Market VIP June 30, 2018 Semiannual Report Deutsche DWS Variable Series II (formerly Deutsche Variable Series II) DWS Government Money Market VIP (formerly Deutsche Government Money Market VIP) Contents 3 Performance

More information

Money Market Fund. Annual Shareholder Report. February 28, 2017 INVESTMENT SHARES (TICKER JNSXX) RETIREMENT SHARES (TICKER JRSXX)

Money Market Fund. Annual Shareholder Report. February 28, 2017 INVESTMENT SHARES (TICKER JNSXX) RETIREMENT SHARES (TICKER JRSXX) Money Market Fund February 28, 2017 INVESTMENT SHARES (TICKER JNSXX) RETIREMENT SHARES (TICKER JRSXX) As with all mutual funds, the Securities and Exchange Commission has not approved or disapproved these

More information

PACE Government Money Market Investments. Semiannual Report January 31, 2017

PACE Government Money Market Investments. Semiannual Report January 31, 2017 PACE Government Money Market Investments Semiannual Report January 31, 2017 Performance (Unaudited) The seven-day current yield for the Fund as of January 31, 2017 was 0.01% (after fee waivers/expense

More information

SIERRA CORE RETIREMENT FUND SIERRA STRATEGIC INCOME FUND. Semi-Annual Report March 31,

SIERRA CORE RETIREMENT FUND SIERRA STRATEGIC INCOME FUND. Semi-Annual Report March 31, SIERRA CORE RETIREMENT FUND SIERRA STRATEGIC INCOME FUND Semi-Annual Report March 31, 2012 1-866-738-4363 www.sierramutualfunds.com Distributed by Northern Lights Distributors, LLC Member FINRA SIERRA

More information

Eagle cash trust. Money Market Fund. Semiannual Report. Go Paperless with edelivery visit eagleasset.com/edelivery For more information, see inside.

Eagle cash trust. Money Market Fund. Semiannual Report. Go Paperless with edelivery visit eagleasset.com/edelivery For more information, see inside. Eagle cash trust Money Market Fund Semiannual Report For the six-month period ended February 28, 2010 (unaudited) Go Paperless with edelivery visit eagleasset.com/edelivery For more information, see inside.

More information

Semi-Annual Report DECEMBER 31, 2017 BBH U.S. GOVERNMENT MONEY MARKET FUND

Semi-Annual Report DECEMBER 31, 2017 BBH U.S. GOVERNMENT MONEY MARKET FUND Semi-Annual Report DECEMBER 31, 2017 BBH U.S. GOVERNMENT MONEY MARKET FUND PORTFOLIO ALLOCATION BREAKDOWN BY SECURITY TYPE Percent of U.S. $ Value Net Assets U.S. Government Agency Obligations... $ 409,389,562

More information

Federated Adjustable Rate Securities Fund

Federated Adjustable Rate Securities Fund February 28, 2018 Share Class Ticker Institutional FEUGX Service FASSX Federated Adjustable Rate Securities Fund Not FDIC Insured May Lose Value No Bank Guarantee CONTENTS Portfolio of Investments Summary

More information

HOLLAND BALANCED FUND. March 31, 2018 (Unaudited)

HOLLAND BALANCED FUND. March 31, 2018 (Unaudited) HOLLAND BALANCED FUND Semi-Annual Report March 31, 2018 (Unaudited) CONTENTS Letter from the President... 1 Cumulative Performance... 2 Management Discussion of Fund Performance... 3 Statement of Net Assets...

More information

RiverSource Precious Metals and Mining Fund

RiverSource Precious Metals and Mining Fund Annual Repor t and Prospectus RiverSource Precious Metals and Mining Fund Annual Report for the Period Ended March 31, 2010 (Prospectus also enclosed) * RiverSource Precious Metals and Mining Fund seeks

More information

Invesco V.I. Government Money Market Fund

Invesco V.I. Government Money Market Fund Semiannual Report to Shareholders June 30, 2018 The Fund provides a complete list of its holdings four times in each fiscal year, at the quarter ends. For the second and fourth quarters, the lists appear

More information

Federated Real Return Bond Fund

Federated Real Return Bond Fund March 31, 2018 Share Class Ticker A RRFAX C RRFCX Institutional RRFIX Federated Real Return Bond Fund Fund Established 2006 A Portfolio of Federated Income Securities Trust Dear Valued Shareholder, I am

More information

Federated Institutional Prime Value Obligations Fund

Federated Institutional Prime Value Obligations Fund July 31, 2018 Share Class Ticker Institutional PVOXX Service PVSXX Capital PVCXX Federated Institutional Prime Value Obligations Fund A Portfolio of Money Market Obligations Trust The Fund operates as

More information

ACR Multi-Strategy Quality Return (MQR) Fund. Class A Shares (Ticker Symbol: MQRAX) Class I Shares (Ticker Symbol: MQRIX)

ACR Multi-Strategy Quality Return (MQR) Fund. Class A Shares (Ticker Symbol: MQRAX) Class I Shares (Ticker Symbol: MQRIX) Class A Shares (Ticker Symbol: MQRAX) Class I Shares (Ticker Symbol: MQRIX) SEMI-ANNUAL REPORT May 31, 2016 A series of Investment Managers Series Trust II Table of Contents Schedule of Investments...

More information

SEMIANNUAL REPORT USAA MANAGED ALLOCATION FUND (UMAFX) NOVEMBER

SEMIANNUAL REPORT USAA MANAGED ALLOCATION FUND (UMAFX) NOVEMBER SEMIANNUAL REPORT USAA MANAGED ALLOCATION FUND (UMAFX) NOVEMBER 30, 2017 TABLE OF CONTENTS Fund Objective 1 Investment Overview 2 Financial Information Portfolio of Investments 3 Notes to Portfolio of

More information

Federated Government Income Trust

Federated Government Income Trust July 31, 2018 Share Class Ticker Institutional FICMX Service FITSX Federated Government Income Trust Fund Established 1982 Dear Valued Shareholder, I am pleased to present the for your fund covering the

More information

General Treasury Securities Money Market Fund

General Treasury Securities Money Market Fund General Treasury Securities Money Market Fund ANNUAL REPORT November 30, 2017 Save time. Save paper. View your next shareholder report online as soon as it s available. Log into www.dreyfus.com and sign

More information

SEMIANNUAL REPORT USAA TREASURY MONEY MARKET TRUST (UATXX) NOVEMBER

SEMIANNUAL REPORT USAA TREASURY MONEY MARKET TRUST (UATXX) NOVEMBER SEMIANNUAL REPORT USAA TREASURY MONEY MARKET TRUST (UATXX) NOVEMBER 30, 2017 TABLE OF CONTENTS Fund Objective 1 Investment Overview 2 Financial Information Portfolio of Investments 3 Notes to Portfolio

More information

Annual Report 1/31/2018. Oppenheimer Portfolio Series Equity Investor Fund

Annual Report 1/31/2018. Oppenheimer Portfolio Series Equity Investor Fund Annual Report 1/31/2018 Oppenheimer Portfolio Series Equity Investor Fund Table of Contents Fund Performance Discussion 3 Top Holdings and Allocations 6 Fund Expenses 9 Statement of Investments 11 Statement

More information

Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX

Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX Good Harbor Tactical Select Fund Class A Shares: GHSAX Class C Shares: GHSCX Class I Shares: GHSIX Semi-Annual

More information

Validus Reinsurance, Ltd. (Incorporated in Bermuda)

Validus Reinsurance, Ltd. (Incorporated in Bermuda) (Incorporated in Bermuda) Consolidated financial statements For the Years Ended December 31, 2010 and 2009 (expressed in U.S. dollars) Consolidated Balance Sheets As at December 31, 2010 and 2009 December

More information

Highland Energy MLP Fund

Highland Energy MLP Fund Semi-Annual Report TABLE OF CONTENTS Fund Profile... 1 Financial Statements... 2 Investment Portfolio... 3 Statement of Assets and Liabilities... 4 Statement of Operations... 6 Statements of Changes in

More information

Highland Energy MLP Fund

Highland Energy MLP Fund Semi-Annual Report TABLE OF CONTENTS Fund Profile... 1 Financial Statements... 2 Investment Portfolio... 3 Statement of Assets and Liabilities... 4 Statement of Operations... 5 Statement of Changes in

More information

Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX

Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX Good Harbor Tactical Select Fund Class A Shares: GHSAX Class C Shares: GHSCX Class I Shares: GHSIX Semi-Annual

More information

Federated Fund for U.S. Government Securities II

Federated Fund for U.S. Government Securities II June 30, 2018 Federated Fund for U.S. Government Securities II A Portfolio of Federated Insurance Series Dear Valued Shareholder, I am pleased to present the for your fund covering the period from January

More information

RiverSource Real Estate Fund

RiverSource Real Estate Fund Annual Report and Prospectus RiverSource Real Estate Fund Annual Report for the Period Ended June 30, 2010 (Prospectus also enclosed) RiverSource Real Estate Fund seeks to provide shareholders with total

More information

SEMI-ANNUAL REPORT Janus Velocity Tail Risk Hedged Large Cap ETF TRSK. Janus Velocity Volatility Hedged Large Cap ETF SPXH

SEMI-ANNUAL REPORT Janus Velocity Tail Risk Hedged Large Cap ETF TRSK. Janus Velocity Volatility Hedged Large Cap ETF SPXH SEMI-ANNUAL REPORT 5.31.16 Janus Velocity Tail Risk Hedged Large Cap ETF TRSK Janus Velocity Volatility Hedged Large Cap ETF SPXH table of CONTENTS Performance Overview 1 Disclosure of Fund Expenses 5

More information

THIRD AVENUE FOCUSED CREDIT FUND. Third Avenue Focused Credit Fund

THIRD AVENUE FOCUSED CREDIT FUND. Third Avenue Focused Credit Fund THIRD AVENUE FOCUSED CREDIT FUND Third Avenue Focused Credit Fund SEMI-ANNUAL REPORT MARCH 31, 2018 THIRD AVENUE FUNDS Privacy Policy (the Fund ) respects your right to privacy. We also know that you expect

More information

UBS Liquid Assets Government Fund. Semiannual Report October 31, 2017

UBS Liquid Assets Government Fund. Semiannual Report October 31, 2017 Semiannual Report October 31, 2017 December 15, 2017 Dear Shareholder, We present you with the semiannual report for UBS Liquid Assets Government Fund (the Fund ) for the six months ended October 31,

More information

SSGA Funds Institutional Money Market Funds SSGA U.S. Treasury Money Market Fund SSGA Prime Money Market Fund

SSGA Funds Institutional Money Market Funds SSGA U.S. Treasury Money Market Fund SSGA Prime Money Market Fund Semi-Annual Report 29 February 2016 SSGA Funds Institutional Money Market Funds SSGA U.S. Treasury Money Market Fund SSGA Prime Money Market Fund The information contained in this report is intended for

More information

Semi-Annual Shareholder Report

Semi-Annual Shareholder Report Money Market Fund August 31, 2017 (Unaudited) INVESTMENT SHARES (TICKER JNSXX) RETIREMENT SHARES (TICKER JRSXX) Enroll in e-delivery Add convenience and organization to your financial life by signing up

More information

Robinson Tax Advantaged Income Fund Class A: ROBAX) (Class C: ROBCX) (Institutional Class: ROBNX)

Robinson Tax Advantaged Income Fund Class A: ROBAX) (Class C: ROBCX) (Institutional Class: ROBNX) Class A: ROBAX) (Class C: ROBCX) (Institutional Class: ROBNX) SEMI-ANNUAL REPORT June 30, 2015 a series of Investment Managers Series Trust Table of Contents Schedule of Investments... 1 Statement of Assets

More information

Semiannual report Putnam VT Government Money Market Fund

Semiannual report Putnam VT Government Money Market Fund Putnam Variable Trust Semiannual report 6 30 18 Putnam VT Government Money Market Fund Message from the Trustees August 10, 2018 Dear Shareholder: During the first half of 2018, conditions became more

More information

Annual Report JUNE 30, 2018 BBH U.S. GOVERNMENT MONEY MARKET FUND

Annual Report JUNE 30, 2018 BBH U.S. GOVERNMENT MONEY MARKET FUND Annual Report JUNE 30, 2018 BBH U.S. GOVERNMENT MONEY MARKET FUND MANAGEMENT S DISCUSSION OF FUND PERFORMANCE For the 12-month period ended, the BBH U.S. Government Money Market Fund (the Fund ) returned

More information

Semiannual Report JUNE 30, Access One Trust. Access VP High Yield Fund

Semiannual Report JUNE 30, Access One Trust. Access VP High Yield Fund Semiannual Report JUNE 30, 2017 Access One Trust Access VP High Yield Fund Table of Contents 1 Message from the Chairman 3 Expense Examples 7 Financial Statements and Financial Highlights 15 Notes to Financial

More information

Fidelity Variable Insurance Products:

Fidelity Variable Insurance Products: Fidelity Variable Insurance Products: VIP Investment Grade Bond Portfolio Annual Report December 31, 2017 Contents VIP Investment Grade Bond Portfolio 3 Performance 4 Management s Discussion of Fund Performance

More information

SEMI-ANNUAL REPORT. May 31, Janus Velocity Tail Risk Hedged Large Cap ETF TRSK. Janus Velocity Volatility Hedged Large Cap ETF SPXH

SEMI-ANNUAL REPORT. May 31, Janus Velocity Tail Risk Hedged Large Cap ETF TRSK. Janus Velocity Volatility Hedged Large Cap ETF SPXH SEMI-ANNUAL REPORT Janus Velocity Tail Risk Hedged Large Cap ETF TRSK Janus Velocity Volatility Hedged Large Cap ETF SPXH May 31, 2015 table of CONTENTS Performance Overview 1 Disclosure of Fund Expenses

More information

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION. As of December 31, (With Report of Independent Registered Public Accounting Firm)

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION. As of December 31, (With Report of Independent Registered Public Accounting Firm) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION As of (With Report of Independent Registered Public Accounting Firm) STIFEL, NICOLAUS & COMPANY, INCORPORATED 501 NORTH BROADWAY ST. LOUIS, MISSOURI 63102-2188

More information

Semiannual Report 7/31/2017. Oppenheimer Portfolio Series Active Allocation Fund

Semiannual Report 7/31/2017. Oppenheimer Portfolio Series Active Allocation Fund Semiannual Report 7/31/2017 Oppenheimer Portfolio Series Active Allocation Fund Table of Contents Fund Performance Discussion 3 Top Holdings and Allocations 6 Fund Expenses 9 Statement of Investments 11

More information

Federated Fund for U.S. Government Securities II

Federated Fund for U.S. Government Securities II President s Message and June 30, 2011 Federated Fund for U.S. Government Securities II A Portfolio of Federated Insurance Series Not FDIC Insured May Lose Value No Bank Guarantee President s Message Dear

More information

General Government Securities Money Market Fund

General Government Securities Money Market Fund General Government Securities Money Market Fund ANNUAL REPORT November 30, 2017 Save time. Save paper. View your next shareholder report online as soon as it s available. Log into www.dreyfus.com and sign

More information

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of June 30, 2012

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of June 30, 2012 CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of June 30, 2012 STIFEL, NICOLAUS & COMPANY, INCORPORATED 501 NORTH BROADWAY ST. LOUIS, MISSOURI 63102-2188 Telephone Number: (314) 342-2000

More information

HUSSMAN INVESTMENT TRUST

HUSSMAN INVESTMENT TRUST HUSSMAN INVESTMENT TRUST Semi-Annual Report December 31, 2009 (Unaudited) Statement of Assets and Liabilities December 31, 2009 (Unaudited) ASSETS Receivable for capital shares sold $ 1,912,579 NET ASSETS

More information

Texas Property and Casualty Insurance Guaranty Association. Financial Report with Additional Information December 31, 2014

Texas Property and Casualty Insurance Guaranty Association. Financial Report with Additional Information December 31, 2014 Financial Report with Additional Information December 31, 2014 Contents Independent Auditor's Report 1 Financial Statements Balance Sheet 2 Statement of Income and Comprehensive Income 3 Statement of Equity

More information

AMERICAN ENTERPRISE INVESTMENT SERVICES, INC. STATEMENT OF FINANCIAL CONDITION. (unaudited) June 30, 2018

AMERICAN ENTERPRISE INVESTMENT SERVICES, INC. STATEMENT OF FINANCIAL CONDITION. (unaudited) June 30, 2018 AMERICAN ENTERPRISE INVESTMENT SERVICES, INC. STATEMENT OF FINANCIAL CONDITION (unaudited) June 30, 2018 Contents Statement of Financial Condition... 1... 2 Statement of Financial Condition (unaudited)

More information

OCTOBER 31, ANNUAL REPORT. ishares Trust ishares 0-5 Year TIPS Bond ETF STIP NYSE Arca ishares TIPS Bond ETF TIP NYSE Arca

OCTOBER 31, ANNUAL REPORT. ishares Trust ishares 0-5 Year TIPS Bond ETF STIP NYSE Arca ishares TIPS Bond ETF TIP NYSE Arca OCTOBER 31, 2017 2017 ANNUAL REPORT ishares Trust ishares 0-5 Year TIPS Bond ETF STIP NYSE Arca ishares TIPS Bond ETF TIP NYSE Arca Table of Contents Management s Discussions of Fund Performance... 5

More information

SEMIANNUAL REPORT USAA REAL RETURN FUND

SEMIANNUAL REPORT USAA REAL RETURN FUND SEMIANNUAL REPORT USAA REAL RETURN FUND FUND SHARES (USRRX) INSTITUTIONAL SHARES (UIRRX) JUNE 30, 2018 TABLE OF CONTENTS Investment Overview 1 Financial Information Portfolio of Investments 2 Notes to

More information

Annual Report to Shareholders

Annual Report to Shareholders July 31, 2014 Annual Report to Shareholders Deutsche Target 2014 Fund (formerly DWS Target 2014 Fund) Deutsche Target 2014 Fund 1 Contents 3 Letter to Shareholders 4 Portfolio Management Review 8 Performance

More information

LJM Preservation and Growth Fund

LJM Preservation and Growth Fund Class A Shares (LJMAX) Class C Shares (LJMCX) Class I Shares (LJMIX) Annual Report Advised by: LJM Funds Management, Ltd. One Financial Place 440 S. La Salle Street, Suite 2301 Chicago, IL 60605 www.ljmfunds.com

More information

Federated Adjustable Rate Securities Fund

Federated Adjustable Rate Securities Fund August 31, 2017 Share Class Ticker Institutional FEUGX Service FASSX Federated Adjustable Rate Securities Fund Not FDIC Insured May Lose Value No Bank Guarantee CONTENTS Management s Discussion of Fund

More information

Triloma EIG Energy Income Fund

Triloma EIG Energy Income Fund Shareholder Information Client Services 844-224-4714 Our Client Services team is available Monday through Friday, 8:00 a.m. to 5:00 p.m. Central Time. Corporate Offices 201 N New York Avenue, Suite 250

More information

LJM Preservation and Growth Fund

LJM Preservation and Growth Fund Class A Shares (LJMAX) Class C Shares (LJMCX) Class I Shares (LJMIX) Semi-Annual Report Advised by: LJM Funds Management, Ltd. One Financial Place 440 S. La Salle Street, Suite 2301 Chicago, IL 60605 www.ljmfunds.com

More information

Fidelity Variable Insurance Products:

Fidelity Variable Insurance Products: Fidelity Variable Insurance Products: Asset Manager: Growth Portfolio Semi-Annual Report June 30, 2018 Contents Investment Summary 3 Schedule of Investments 4 Financial Statements 8 Notes to Financial

More information

FUND CHIP BLUE INVESTOR SEMI-ANNUAL REPORT. June 30, 2018

FUND CHIP BLUE INVESTOR SEMI-ANNUAL REPORT. June 30, 2018 BLUE CHIP INVESTOR FUND SEMI-ANNUAL REPORT June 30, 2018 Blue Chip Investor Fund PERFORMANCE INFORMATION (Unaudited) 6/30/18 NAV $174.64 AVERAGE ANNUALIZED RATE OF RETURN (%) FOR THE PERIODS ENDED JUNE

More information

UBS Preferred Funds. Semiannual Report October 31, 2017

UBS Preferred Funds. Semiannual Report October 31, 2017 UBS Preferred Funds Semiannual Report October 31, 2017 Includes: UBS Select Prime Preferred Fund UBS Select Government Preferred Fund UBS Select Treasury Preferred Fund UBS Prime Preferred Fund UBS Tax-Free

More information

Federated Government Ultrashort Duration Fund

Federated Government Ultrashort Duration Fund July 31, 2017 Share Class A Institutional Service R6 Ticker FGUAX FGUSX FEUSX FGULX Federated Government Ultrashort Duration Fund Fund Established 1997 A Portfolio of Federated Institutional Trust Dear

More information

SEMI-ANNUAL REPORT 2012 SUNAMERICA. Money Market Fund

SEMI-ANNUAL REPORT 2012 SUNAMERICA. Money Market Fund SEMI-ANNUAL REPORT 2012 SUNAMERICA Money Market Fund June 30, 2012 SEMI-ANNUAL REPORT SUNAMERICA MONEY MARKET FUNDS, INC. SunAmerica Money Market Fund (SMAXX) Table of Contents SHAREHOLDERS LETTER...

More information

Federated Institutional Money Market Management

Federated Institutional Money Market Management July 31, 2018 Share Class Ticker Institutional MMPXX Service MMSXX Capital MMLXX Eagle MMMXX Federated Institutional Money Market Management Fund Established 1974 A Portfolio of Money Market Obligations

More information

Semi-Annual Report November 30, 2017

Semi-Annual Report November 30, 2017 FormulaFolios Hedged Growth ETF (FFHG) FormulaFolios Smart Growth ETF (FFSG) FormulaFolios Tactical Growth ETF (FFTG) FormulaFolios Tactical Income ETF (FFTI) Semi-Annual Report 1-888-562-8880 www.formulafoliofunds.com

More information

SEMIANNUAL REPORT USAA CORNERSTONE EQUITY FUND (UCEQX) NOVEMBER

SEMIANNUAL REPORT USAA CORNERSTONE EQUITY FUND (UCEQX) NOVEMBER SEMIANNUAL REPORT USAA CORNERSTONE EQUITY FUND (UCEQX) NOVEMBER 30, 2017 TABLE OF CONTENTS Fund Objective 1 Investment Overview 2 Financial Information Portfolio of Investments 3 Notes to Portfolio of

More information

MFS Growth Allocation Portfolio

MFS Growth Allocation Portfolio Semiannual Report June 30, 2018 MFS Growth Allocation Portfolio MFS Variable Insurance Trust III VGA-SEM MFS Growth Allocation Portfolio CONTENTS Letter from the Executive Chairman... 1 Portfolio composition...

More information

Letter to Shareholders Dear Fellow RiverSource Funds Shareholder: At RiverSource Funds, we are focused on delivering consistent and competitive invest

Letter to Shareholders Dear Fellow RiverSource Funds Shareholder: At RiverSource Funds, we are focused on delivering consistent and competitive invest Semiannual Report RiverSource Portfolio Builder Series Semiannual Report for the Period Ended July 31, 2007 * This semiannual report describes six funds, each of which invests in other RiverSource Funds.

More information

THIRD POINT OFFSHORE FUND L.P. UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS

THIRD POINT OFFSHORE FUND L.P. UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS THIRD POINT OFFSHORE INVESTORS OFFSHORE MASTER LIMITED FUND L.P. UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS Period Ended June 30, 2010 Contents 01 Statement of Financial Condition 02 Unaudited Statement

More information

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents - New Jersey 529 College Savings Plan- Combined Financial Statements and Supplemental Information Year ended June 30, 2012 Contents Report of Independent Auditors...1 Combined Financial Statements Combined

More information

ETF Managers Group Commodity Trust I (Exact name of registrant as specified in its charter)

ETF Managers Group Commodity Trust I (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended

More information

Redwood Unconstrained Bond Fund

Redwood Unconstrained Bond Fund Unaudited Interim Financial Statements June 30, 2016 Statements of Financial Position (unaudited) As at June 30, 2016 and December 31, 2015 June 30, 2016 December 31, 2015 $ $ Assets Current Assets Investments

More information

Fidelity Income Replacement 2017 Portfolio

Fidelity Income Replacement 2017 Portfolio Fidelity Income Replacement 2017 Portfolio Semi-Annual Report December 31, 2015 Notice to Readers The accompanying interim financial statements have not been reviewed by the external auditor of the Fund.

More information

Blackstone Real Estate Income Trust, Inc.

Blackstone Real Estate Income Trust, Inc. 10-Q 1 d384961d10q.htm FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

More information

VARIANT ALTERNATIVE INCOME FUND (a Delaware Statutory Trust)

VARIANT ALTERNATIVE INCOME FUND (a Delaware Statutory Trust) VARIANT ALTERNATIVE INCOME FUND Semi-Annual Report For the Period Ended October 31, 2018 (Unaudited) Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the Fund

More information

Eagle MLP Strategy Fund Class A Shares: EGLAX Class C Shares: EGLCX Class I Shares: EGLIX

Eagle MLP Strategy Fund Class A Shares: EGLAX Class C Shares: EGLCX Class I Shares: EGLIX Class A Shares: EGLAX Class C Shares: EGLCX Class I Shares: EGLIX Semi-Annual Report Distributed by Northern Lights Distributors, LLC Member FINRA PORTFOLIO REVIEW (Unaudited) The Fund s performance figures*

More information

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents - New Jersey 529 College Savings Plan- Combined Financial Statements and Supplemental Information Year ended June 30, 2013 Contents Report of Independent Auditors...1 Combined Financial Statements Combined

More information

Chilton Realty Income & Growth Fund (Class A: REIAX) (Class C: REICX) (Institutional Class: REIIX)

Chilton Realty Income & Growth Fund (Class A: REIAX) (Class C: REICX) (Institutional Class: REIIX) (Class A: REIAX) (Class C: REICX) (Institutional Class: REIIX) SEMI-ANNUAL REPORT June 30, 2014 a series of the Investment Managers Series Trust Table of Contents Schedules of Investments... 1 Statement

More information

Texas Property and Casualty Insurance Guaranty Association. Financial Report with Additional Information December 31, 2013

Texas Property and Casualty Insurance Guaranty Association. Financial Report with Additional Information December 31, 2013 Financial Report with Additional Information December 31, 2013 Contents Independent Auditor's Report 1-2 Financial Statements Balance Sheet 3 Statement of Income and Comprehensive Income 4 Statement of

More information

The Community Development Fund

The Community Development Fund Semi-Annual Report June 30, 2018 June 30, 2018 TABLE OF CONTENTS Schedule of Investments... 1 Statement of Assets and Liabilities... 5 Statement of Operations... 6 Statements of Changes in Net Assets...

More information

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of June 30, 2017

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of June 30, 2017 CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (Unaudited) As of STIFEL, NICOLAUS & COMPANY, INCORPORATED 501 NORTH BROADWAY ST. LOUIS, MISSOURI 63102-2188 Telephone Number: (314) 342-2000 Consolidated

More information

WILMINGTON TRUST COLLECTIVE INVESTMENT TRUST III FOR METLIFE GROUP ANNUITY CONTRACT NO FINANCIAL STATEMENTS DECEMBER 31, 2016

WILMINGTON TRUST COLLECTIVE INVESTMENT TRUST III FOR METLIFE GROUP ANNUITY CONTRACT NO FINANCIAL STATEMENTS DECEMBER 31, 2016 WILMINGTON TRUST COLLECTIVE INVESTMENT TRUST III FOR METLIFE GROUP ANNUITY CONTRACT NO. 25554 FINANCIAL STATEMENTS DECEMBER 31, 2016 WITH INDEPENDENT AUDITOR'S REPORT CONTENTS Independent Auditor's Report...

More information

Highland Energy MLP Fund

Highland Energy MLP Fund Annual Report TABLE OF CONTENTS Portfolio Manager Commentary... 1 Fund Profile... 3 Financial Statements... 4 Investment Portfolio... 5 Statement of Assets and Liabilities... 6 Statement of Operations...

More information

Eaton Vance Floating-Rate Advantage Fund. Annual Report October 31, 2017

Eaton Vance Floating-Rate Advantage Fund. Annual Report October 31, 2017 Eaton Vance Floating-Rate Advantage Fund Annual Report Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission ( CFTC ) adopted certain

More information

Government Money Market ProFund

Government Money Market ProFund Annual Report DECEMBER 31, 2017 Government Money Market ProFund Table of Contents 1 Message from the Chairman 3 Fund Performance, Allocation of Portfolio Holdings and Expense Examples 7 Financial Statements

More information

Fidelity Tactical Fixed Income Fund

Fidelity Tactical Fixed Income Fund Fidelity Tactical Fixed Income Fund Annual Report June 30, 2017 Fidelity Tactical Fixed Income Fund Schedule of Investments June 30, 2017 Showing Percentage of Net Assets Attributable to Securityholders

More information

A UDITED C OMBINED F INANCIAL S TATEMENTS. New Jersey 529 College Savings Plan Franklin Templeton Managed Investment Options

A UDITED C OMBINED F INANCIAL S TATEMENTS. New Jersey 529 College Savings Plan Franklin Templeton Managed Investment Options A UDITED C OMBINED F INANCIAL S TATEMENTS New Jersey 529 College Savings Plan New Jersey Better Education Savings Trust New Jersey Division of Investment Managed Investment Options 2010 The 529 Plans NEW

More information

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION. As of December 31, (With Report of Independent Registered Public Accounting Firm)

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION. As of December 31, (With Report of Independent Registered Public Accounting Firm) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION As of (With Report of Independent Registered Public Accounting Firm) STIFEL, NICOLAUS & COMPANY, INCORPORATED 501 NORTH BROADWAY ST. LOUIS, MISSOURI 63102-2188

More information

Retirement 2060 Fund Retirement 2060 Fund Advisor Class Retirement 2060 Fund R Class

Retirement 2060 Fund Retirement 2060 Fund Advisor Class Retirement 2060 Fund R Class SEMIANNUAL REPORT Financial Statements November 30, 2017 TRRLX TRRYX TRRZX T. ROWE PRICE Retirement 2060 Fund Retirement 2060 Fund Advisor Class Retirement 2060 Fund R Class Unaudited Financial Highlights

More information

Semi-Annual Report to Shareholders CLIFFORD CAPITAL PARTNERS FUND. For the six months ended March 31, 2018 (unaudited)

Semi-Annual Report to Shareholders CLIFFORD CAPITAL PARTNERS FUND. For the six months ended March 31, 2018 (unaudited) Semi-Annual Report to Shareholders CLIFFORD CAPITAL PARTNERS FUND For the six months ended March 31, 2018 (unaudited) Important Disclosure Statement The Fund s prospectus contains important information

More information

Investors Mortgage and Short Term Income Fund

Investors Mortgage and Short Term Income Fund Investors Mortgage and Short Term Income Fund Interim Financial Report FOR THE SIX-MONTH PERIOD ENDED SEPTEMBER 30, 2017 The accompanying interim financial statements have not been reviewed by the external

More information

Institutional Money Market Funds

Institutional Money Market Funds Prospectus June 1, 2017 Institutional Money Market Funds Wells Fargo Fund Wells Fargo Cash Investment Money Market Fund Wells Fargo Heritage Money Market Fund Wells Fargo Municipal Cash Management Money

More information

Government Money Market Funds

Government Money Market Funds Prospectus June 1, 2018 Government Money Market Funds Wells Fargo Fund Sweep Class Wells Fargo Government Money Market Fund - Wells Fargo Treasury Plus Money Market Fund - Wells Fargo 100% Treasury Money

More information

Government Money Fund Government Money Fund I Class

Government Money Fund Government Money Fund I Class SEMIANNual REPORT November 30, 2017 PRRXX TTGXX T. Rowe Price Government Money Fund Government Money Fund I Class The fund invests in high-quality, short-term U.S. government securities for capital preservation

More information

Consolidated Statement of Financial Condition. Piper Jaffray & Co. (A Wholly-Owned Subsidiary of Piper Jaffray Companies)

Consolidated Statement of Financial Condition. Piper Jaffray & Co. (A Wholly-Owned Subsidiary of Piper Jaffray Companies) Consolidated Statement of Financial Condition Piper Jaffray & Co. (A Wholly-Owned Subsidiary of Piper Jaffray Companies) June 30, 2012 2 Dear Client: The following information outlines the financial condition

More information

ETF Managers Group Commodity Trust I (Exact name of registrant as specified in its charter)

ETF Managers Group Commodity Trust I (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended

More information

Government Money Market Funds

Government Money Market Funds Prospectus June 1, 2018 Government Money Market Funds Wells Fargo Fund Wells Fargo Government Money Market Fund Wells Fargo Treasury Plus Money Market Fund Wells Fargo 100% Treasury Money Market Fund Class

More information

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents

Combined Financial Statements and Supplemental Information. Year ended June 30, Contents - New Jersey 529 College Savings Plan- Combined Financial Statements and Supplemental Information Year ended June 30, 2014 Contents Report of Independent Auditors 1 Combined Financial Statements Combined

More information

DAIWA. Daiwa Capital Markets America Inc. (A Wholly Owned Subsidiary of Daiwa Capital Markets America Holdings Inc.) S e p t e m b e r 3 0

DAIWA. Daiwa Capital Markets America Inc. (A Wholly Owned Subsidiary of Daiwa Capital Markets America Holdings Inc.) S e p t e m b e r 3 0 DAIWA Daiwa Capital Markets America Inc. (A Wholly Owned Subsidiary of Daiwa Capital Markets America Holdings Inc.) S e p t e m b e r 3 0 2014 (Unaudited) DAIWA CAPITAL MARKETS AMERICA INC. (A Wholly Owned

More information

Dreyfus Institutional Preferred Treasury Securities Money Market Fund

Dreyfus Institutional Preferred Treasury Securities Money Market Fund Dreyfus Institutional Preferred Treasury Securities Money Market Fund SEMIANNUAL REPORT September 30, 2018 Save time. Save paper. View your next shareholder report online as soon as it s available. Log

More information

Semiannual Report to Shareholders

Semiannual Report to Shareholders June 30, 2018 Semiannual Report to Shareholders DWS RREEF Real Estate Securities Fund (formerly Deutsche Real Estate Securities Fund) Contents 3 Letter to Shareholders 4 Performance Summary 7 Portfolio

More information

The Altegris Mutual Funds

The Altegris Mutual Funds The Altegris Mutual Funds Each a Series of Northern Lights Fund Trust Semi-Annual Report Altegris/AACA Opportunistic Real Estate Fund ADVISED BY Altegris Advisors, L.L.C. 1200 Prospect Street Suite 400

More information

Davis-Rea Equity Fund. Unaudited Financial Statements

Davis-Rea Equity Fund. Unaudited Financial Statements Unaudited Financial Statements For the Periods ended and 2013 DAVIS-REA EQUITY FUND Unaudited Statements of Financial Position 1 1 As at and December 31, 2013 and January 1, 2013 June-30-14 December-31-13

More information

BTS Tactical Fixed Income Fund. Semi-Annual Report June 30, BTS-9820 ( )

BTS Tactical Fixed Income Fund. Semi-Annual Report June 30, BTS-9820 ( ) BTS Tactical Fixed Income Fund Semi-Annual Report 1-877-BTS-9820 (1-877-287-9820) www.btsfunds.com This report and the financial statements contained herein are submitted for the general information of

More information

Semi-Annual Report. For the six months ended March 31, U.S. Government Money Market Fund

Semi-Annual Report. For the six months ended March 31, U.S. Government Money Market Fund Semi-Annual Report For the six months ended March 31, 2018 U.S. Government Money Market Fund RBC Funds About your Semi Annual Report Table of Contents This semi-annual report (Unaudited) includes detailed

More information

Semi-Annual Report RIVERNORTH OPPORTUNITIES FUND, INC. OPPORTUNISTIC INVESTMENT STRATEGIES

Semi-Annual Report RIVERNORTH OPPORTUNITIES FUND, INC. OPPORTUNISTIC INVESTMENT STRATEGIES OPPORTUNISTIC INVESTMENT STRATEGIES 4.30.2017 Semi-Annual Report RIVERNORTH OPPORTUNITIES FUND, INC. Investment Sub-Adviser: RiverNorth Capital Management, LLC 325 N. LaSalle Street, Suite 645 Chicago,

More information

Retail Money Market Funds

Retail Money Market Funds Prospectus June 1, 2017 Retail Money Market Funds Wells Fargo Fund Wells Fargo Money Market Fund Wells Fargo National Tax-Free Money Market Fund Premier Class WMPXX WFNXX As with all mutual funds, the

More information