Huntington Funds’ Domestic Money Market Funds To Continue Participation in U.S. Treasury Temporary Guarantee Program
for Money Funds - 12/3/2008
On November 24, 2008, the Treasury announced the extension of the Temporary Guarantee Program for money market funds until April 30, 2009 to support ongoing stability in the credit markets. Huntington’s domestic money market funds will continue their coverage under the program.
Huntington Funds announced today that the board of directors for all of Huntington Funds’ domestic money market funds has approved the extension for continued participation in the Treasury Temporary Guarantee Program.
The Huntington Funds believe their money market funds have always been capable of maintaining capital preservation and liquidity and that this added assurance should boost the confidence of its shareholders. The funds participating in this program are: Huntington Money Market Fund, Huntington Ohio Municipal Money Market Fund, Huntington Tax-Free Money Market Fund and Huntington U.S. Treasury Money Market Fund.
Randy Bateman, Huntington Chief Investment Officer, stated “Huntington understands the concerns of our investors in light of the extreme market volatility we have experienced this year. We want to add extra stability to our funds that will offer peace of mind to our shareholders as they are our first priority. We also want to point out that we are confident our money market funds are able to provide a net asset value of $1.00 per share*, as they have over the past two decades.”
*Although Huntington money market portfolios have never broken the $1.00 stated price, there is no guarantee that such price stability will be achieved in the future.
Since the U.S. Treasury Temporary Guarantee Program was first announced, Huntington Asset Advisors has viewed this program as a useful development in bringing additional stability to the credit markets where money market funds are a critical component. The Treasury’s program is designed to provide coverage to shareholders for amounts held by them in all money market funds regulated by Rule 2a-7 as of the close of business on September 19, 2008. Additional details on the Treasury program are available at: http://www.treas.gov/press/releases/hp1163.htm
The U.S. Treasury Temporary Guarantee Program provides a guarantee to participating money market mutual fund shareholders based on the number of shares invested in the fund at the close of business on September 19, 2008. Any increase in the number of shares an investor holds after the close of business on September 19, 2008, will not be guaranteed. In addition, if the number of shares an investor holds fluctuates over the period, the investor will be covered for either the number of shares held as the close of business on September 19, 2008, or the current amount, whichever is less. The program also states that in the event a customer closes their account with a fund or broker/dealer, any future investment in the fund will not be guaranteed. The Program expires on April 30, 2009, unless extended by the United States Treasury.
Certain statements in this statement, such as those related to Huntington Asset Advisors management of money market funds, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Other risks and uncertainties include the possibility that Huntington’s management process is not successful, as well as the risk factors discussed in the company’s annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
Past performance is no guarantee of future results.
An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds.
Comments are as of December 3, 2008, and are subject to change based on market conditions and other factors. These comments should not be construed as a recommendation for any specific security.
For more complete information about the Huntington Funds, call 1-800-253-0412, see your Huntington investment representative or visit www.huntingtonfunds.com for a prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus, which you should read carefully before investing.
The Funds are distributed by Unified Financial Securities, Inc. (Member FINRA) an affiliate of The Huntington National Bank.