E*TRADE Group is launching the
Premier Money Market Fund, which seeks to provide higher yields through a lower expense ratio for investors seeking a high level of income, capital preservation and liquidity. The fund, the first proprietary E*TRADE money market fund, was available beginning April 7.
"This Fund expands the E*TRADE proprietary Family of Funds offering to eight, and
adds another dimension to the range of investment objectives E*TRADE fulfills, from aggressive growth to preservation of capital," said Amy Errett, chief asset gathering officer.
The fund has no load, no transaction fee, and no 12b-1 fee, along with 100% online shareholder reporting. The fund's expense ratio will be 0.42%.
E*TRADE Asset Management will serve as the investment advisor for the new fund.
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