MONEY MARKET FUNDS

Money market mutual funds invest in the short-term debts of corporations, federal and state governments, and their subsidiaries.

They bring these investments to the small investor for an initial investment as low as $500 (depending on the fund). Money market funds invest in Treasury bills, commercial paper, banker's acceptances, negotiable certificates of deposit, repurchase agreements and short-term debts of U.S. Government agencies. A fund's prospectus will list each investment and how much of it the fund has bought.

The returns on money market funds depend on the yields of their individual holdings. Money market instrument yields can fluctuate greatly. This causes the yields of money funds to fluctuate as well. Investors who hold money market funds can track the funds' yield changes in the financial pages of most major newspapers.

The following screens discuss mutual funds that cut across specific securities.