Meeder Institutional Prime Money Market Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.8%
1 yr return
5.1%
3 Yr Avg Return
2.6%
5 Yr Avg Return
2.0%
Net Assets
$8.77 B
Holdings in Top 10
37.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Money Market Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FLPXX - Profile
Distributions
- YTD Total Return 1.8%
- 3 Yr Annualized Total Return 2.6%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.05%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMeeder Institutional Prime Money Market Fund
-
Fund Family NameMeeder Funds
-
Inception DateOct 07, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Techentin
Fund Description
The Fund invests primarily in high-quality, short-term money market instruments, such as securities backed by the full faith and credit of the U.S. Government, securities issued by U.S. Government agencies, municipal obligations, obligations issued by corporations and financial institutions, repurchase agreements, and money market mutual funds that invest in such securities.
The Fund is a money market fund managed to meet the quality, maturity and diversification requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended. Consistent with these requirements, the Fund:
● | Computes its price per share for purposes of distribution, redemption and repurchase by rounding the Fund’s current net asset value per share to a minimum of the fourth decimal place; |
● | Only buys securities that present minimal credit risks and that are “Eligible Securities” under applicable regulation; |
● | Only buys securities with remaining maturities of 397 calendar days or less as determined under Rule 2a-7; |
● | Will not invest more than 5% of its total assets in the securities of a single issuer, other than in U.S. Government securities or as permitted under Rule 2a-7; |
● | Will not hold more than 5% of its total assets in illiquid securities; |
● | Maintains a dollar-weighted average portfolio maturity of 60 calendar days or less; |
● | Maintains a maximum weighted average life maturity of 120 calendar days or less; |
● | Maintains at least 10 percent of total assets in “daily liquid assets” as defined in Rule 2a-7; and |
● | Maintains at least 30 percent of total assets in “weekly liquid assets” as defined in Rule 2a-7. |
The Fund will limit its purchases to U.S. Government securities and securities of its agencies and instrumentalities, bank obligations and instruments secured thereby, high quality commercial paper, high-grade corporate obligations, funding agreements, repurchase agreements and money market mutual funds that invest in such securities. The Fund may also invest in municipal and other short-term obligations issued by the states, territories or possessions of the United States and their respective agencies, instrumentalities and political subdivisions. The Fund generally will attempt to purchase securities with longer maturities when it believes interest rates are falling and will attempt to purchase securities with shorter maturities when it believes interest rates are rising.
The Fund will, under normal circumstances, invest more than 25% of the value of its total assets in instruments issued by companies in the financial services group of industries. The Fund may, however, invest less than 25% of the value of its total assets in this group of industries for temporary defensive purposes.
The Fund may engage in repurchase agreement transactions that are collateralized by cash or government securities. In addition, it may engage in repurchase agreement transactions that are collateralized by non-government securities such as fixed income securities that are rated investment grade and below investment grade by nationally recognized statistical rating organizations or unrated securities of comparable quality, except that the term of a fixed income security used as collateral may be longer than permissible for the Fund to invest directly.
Other than as set forth in the Statement of Additional Information (“SAI”), the investment policies and limitations of the Fund are not fundamental and may be changed by the Board of Trustees of the Meeder Funds without shareholder approval.
FLPXX - Performance
Return Ranking - Trailing
Period | FLPXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | 0.0% | 1.8% | 15.54% |
1 Yr | 5.1% | 0.0% | 1444.3% | 55.48% |
3 Yr | 2.6%* | 0.0% | 2.8% | 33.33% |
5 Yr | 2.0%* | 0.0% | 121.5% | 21.60% |
10 Yr | N/A* | 0.0% | 1.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | FLPXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | 0.0% | 0.1% | 45.14% |
2022 | 0.0% | 0.0% | 0.0% | 83.33% |
2021 | 0.0% | 0.0% | 0.0% | 84.29% |
2020 | 0.0% | 0.0% | 0.0% | 83.21% |
2019 | 0.0% | 0.0% | 0.0% | 82.54% |
Total Return Ranking - Trailing
Period | FLPXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | 0.0% | 1.8% | 15.54% |
1 Yr | 5.1% | 0.0% | 1444.3% | 55.48% |
3 Yr | 2.6%* | 0.0% | 2.8% | 33.33% |
5 Yr | 2.0%* | 0.0% | 121.5% | 21.60% |
10 Yr | N/A* | 0.0% | 1.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FLPXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.3% | 0.0% | 5.8% | 35.42% |
2022 | 1.6% | 0.0% | 1.8% | 16.67% |
2021 | 0.1% | 0.0% | 0.1% | 0.71% |
2020 | 0.6% | 0.0% | 0.8% | 25.95% |
2019 | 2.6% | 0.0% | 4868.4% | 13.49% |
NAV & Total Return History
FLPXX - Holdings
Concentration Analysis
FLPXX | Category Low | Category High | FLPXX % Rank | |
---|---|---|---|---|
Net Assets | 8.77 B | 16.1 M | 86.2 B | 5.81% |
Number of Holdings | 101 | 1 | 345 | 57.42% |
Net Assets in Top 10 | 231 M | 22.7 M | 21.7 B | 92.26% |
Weighting of Top 10 | 37.26% | 14.2% | 100.0% | 41.94% |
Top 10 Holdings
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
- Fcstone 14.99%
Asset Allocation
Weighting | Return Low | Return High | FLPXX % Rank | |
---|---|---|---|---|
Cash | 96.35% | 35.74% | 100.00% | 30.32% |
Bonds | 3.65% | 0.00% | 64.26% | 63.23% |
Stocks | 0.00% | 0.00% | 1.03% | 83.87% |
Preferred Stocks | 0.00% | 0.00% | 1.01% | 83.87% |
Other | 0.00% | 0.00% | 0.04% | 83.87% |
Convertible Bonds | 0.00% | 0.00% | 13.25% | 87.10% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FLPXX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 96.35% | 35.74% | 100.00% | 30.32% |
Municipal | 3.65% | 0.00% | 49.89% | 43.23% |
Derivative | 0.00% | 0.00% | 0.36% | 83.87% |
Securitized | 0.00% | 0.00% | 0.98% | 83.87% |
Corporate | 0.00% | 0.00% | 14.24% | 94.84% |
Government | 0.00% | 0.00% | 30.63% | 99.35% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FLPXX % Rank | |
---|---|---|---|---|
US | 3.65% | 0.00% | 64.26% | 63.23% |
Non US | 0.00% | 0.00% | 2.90% | 87.10% |
FLPXX - Expenses
Operational Fees
FLPXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.46% | 0.11% | 20.36% | 44.74% |
Management Fee | 0.27% | 0.00% | 0.57% | 87.74% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 29.63% |
Administrative Fee | 0.10% | 0.03% | 0.55% | 66.67% |
Sales Fees
FLPXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FLPXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FLPXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 212.00% | N/A |
FLPXX - Distributions
Dividend Yield Analysis
FLPXX | Category Low | Category High | FLPXX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 5.34% | 68.39% |
Dividend Distribution Analysis
FLPXX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FLPXX | Category Low | Category High | FLPXX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.05% | -1.14% | 1.97% | 19.86% |
Capital Gain Distribution Analysis
FLPXX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.005 | OrdinaryDividend |
Feb 29, 2024 | $0.004 | DailyAccrualFund |
Jan 31, 2024 | $0.005 | DailyAccrualFund |
Dec 29, 2023 | $0.005 | DailyAccrualFund |
Nov 30, 2023 | $0.005 | DailyAccrualFund |
Oct 31, 2023 | $0.005 | DailyAccrualFund |
Sep 29, 2023 | $0.005 | DailyAccrualFund |
Aug 31, 2023 | $0.005 | DailyAccrualFund |
Jul 31, 2023 | $0.004 | DailyAccrualFund |
Jun 30, 2023 | $0.005 | DailyAccrualFund |
May 31, 2023 | $0.004 | DailyAccrualFund |
Apr 28, 2023 | $0.000 | DailyAccrualFund |
Mar 31, 2023 | $0.004 | DailyAccrualFund |
Feb 28, 2023 | $0.004 | DailyAccrualFund |
Jan 31, 2023 | $0.004 | DailyAccrualFund |
Dec 30, 2022 | $0.004 | DailyAccrualFund |
Nov 30, 2022 | $0.003 | DailyAccrualFund |
Oct 31, 2022 | $0.002 | DailyAccrualFund |
Sep 30, 2022 | $0.002 | DailyAccrualFund |
Aug 31, 2022 | $0.002 | DailyAccrualFund |
Jul 29, 2022 | $0.001 | DailyAccrualFund |
Jun 30, 2022 | $0.001 | DailyAccrualFund |
May 31, 2022 | $0.001 | DailyAccrualFund |
Apr 29, 2022 | $0.000 | DailyAccrualFund |
Mar 31, 2022 | $0.000 | DailyAccrualFund |
Jul 01, 2021 | $0.000 | DailyAccrualFund |
May 28, 2021 | $0.000 | DailyAccrualFund |
Apr 30, 2021 | $0.000 | DailyAccrualFund |
Mar 31, 2021 | $0.000 | DailyAccrualFund |
Feb 26, 2021 | $0.000 | DailyAccrualFund |
Jan 29, 2021 | $0.000 | DailyAccrualFund |
Dec 31, 2020 | $0.000 | DailyAccrualFund |
Nov 30, 2020 | $0.000 | DailyAccrualFund |
Oct 30, 2020 | $0.000 | DailyAccrualFund |
Sep 30, 2020 | $0.000 | DailyAccrualFund |
Aug 31, 2020 | $0.000 | DailyAccrualFund |
Jul 31, 2020 | $0.000 | DailyAccrualFund |
Jun 30, 2020 | $0.000 | DailyAccrualFund |
May 29, 2020 | $0.000 | DailyAccrualFund |
Apr 30, 2020 | $0.001 | DailyAccrualFund |
Mar 31, 2020 | $0.001 | DailyAccrualFund |
Feb 28, 2020 | $0.001 | DailyAccrualFund |
Jan 31, 2020 | $0.002 | DailyAccrualFund |
Dec 31, 2019 | $0.001 | DailyAccrualFund |
Nov 29, 2019 | $0.002 | DailyAccrualFund |
Oct 31, 2019 | $0.002 | DailyAccrualFund |
Sep 30, 2019 | $0.002 | DailyAccrualFund |
Aug 30, 2019 | $0.002 | DailyAccrualFund |
Jul 31, 2019 | $0.002 | DailyAccrualFund |
Jun 28, 2019 | $0.002 | DailyAccrualFund |
May 31, 2019 | $0.002 | DailyAccrualFund |
Apr 30, 2019 | $0.002 | DailyAccrualFund |
Mar 29, 2019 | $0.002 | DailyAccrualFund |
Feb 28, 2019 | $0.002 | DailyAccrualFund |
Jan 31, 2019 | $0.002 | DailyAccrualFund |
Dec 31, 2018 | $0.002 | DailyAccrualFund |
Nov 30, 2018 | $0.002 | DailyAccrualFund |
Oct 31, 2018 | $0.002 | DailyAccrualFund |
Sep 28, 2018 | $0.002 | DailyAccrualFund |
Aug 31, 2018 | $0.002 | DailyAccrualFund |
Jul 31, 2018 | $0.002 | DailyAccrualFund |
Jun 29, 2018 | $0.002 | DailyAccrualFund |
May 31, 2018 | $0.000 | DailyAccrualFund |
Apr 30, 2018 | $0.001 | DailyAccrualFund |
Mar 29, 2018 | $0.001 | DailyAccrualFund |
Feb 28, 2018 | $0.001 | DailyAccrualFund |
Jan 31, 2018 | $0.001 | DailyAccrualFund |
Dec 29, 2017 | $0.001 | DailyAccrualFund |
Oct 31, 2017 | $0.001 | DailyAccrualFund |
Sep 29, 2017 | $0.001 | DailyAccrualFund |
Aug 31, 2017 | $0.001 | DailyAccrualFund |
Jul 31, 2017 | $0.001 | DailyAccrualFund |
Jun 30, 2017 | $0.001 | DailyAccrualFund |
May 31, 2017 | $0.001 | DailyAccrualFund |
Apr 28, 2017 | $0.001 | DailyAccrualFund |
Mar 31, 2017 | $0.001 | DailyAccrualFund |
Feb 28, 2017 | $0.001 | DailyAccrualFund |
Jan 31, 2017 | $0.001 | DailyAccrualFund |
Dec 30, 2016 | $0.000 | DailyAccrualFund |
Nov 30, 2016 | $0.000 | DailyAccrualFund |
Oct 31, 2016 | $0.000 | DailyAccrualFund |
FLPXX - Fund Manager Analysis
Managers
Robert Techentin
Start Date
Tenure
Tenure Rank
Oct 07, 2016
5.65
5.7%
Robert G. Techentin. Mr. Techentin is a Portfolio Manager at Meeder and has been associated with Meeder Investment Management, Inc. since August 2006. Mr. Techentin previously held a positions as Portfolio Manager at H&R Block from 1993 to 2001, Financial Representative at Northwestern Mutual Life Insurance Company from 2002 to 2005 and as a Financial Consultant at Charles Schwab & Co. from 2005 to 2006. Mr. Techentin has been a member of the team managing the Funds and Portfolios since August 2006.
Jason Szabo
Start Date
Tenure
Tenure Rank
Oct 07, 2016
5.65
5.7%
Jason Szabo, CFA. Mr. Szabo is a Portfolio Manager and has been associated with Meeder Asset Management, Inc. since July 2015, when he joined the team managing the Funds. Mr. Szabo was previously an investment policy compliance associate with JPMorgan Investment Management, from 2012 to 2015.
Robert Meeder
Start Date
Tenure
Tenure Rank
Oct 07, 2016
5.65
5.7%
Robert S. Meeder, Jr. is President and CEO of Meeder Investment Management and brings over 30 years of investment industry experience. Mr. Meeder has been President of Meeder Investment Management, Inc. since 1991 and has been a member of the team managing the Funds and Portfolios since 1992. In addition to his executive duties, Mr. Meeder is involved in the development of investment policy and client relationships for Meeder Investment Management, Inc.
Andrew Musselman
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Andrew Musselman, CTP. Mr. Musselman is a Portfolio Manager and has been associated with Meeder Asset Management, Inc. since December 2021, when he joined the team managing the Funds. Mr. Musselman was previously a Portfolio Manager for the Commonwealth of Pennsylvania Department from 2018 – 2021.
Donald McConnell
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Donald McConnell. Mr. McDonnell is a Portfolio Manager and has been associated with Meeder Asset Management, Inc. since February 2022, when he joined the team managing the Funds. Mr. McConnell was previously a Senior Portfolio Manager with BMO Global Asset Management from 2013 – 2022.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 41.58 | 16.52 | 18.34 |