Edward Jones Money Market Fund
11/07/2024 | Press release | Distributed by Public on 11/07/2024 10:36
Semi Annual Report by Investment Company Form N CSRS
N-CSRS
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-02993
Edward Jones Money Market Fund
(Exact name of registrant as specified in charter)
Edward Jones Money Market Fund
12555 Manchester Road
St. Louis, MO, 63131
(Address of principal executive offices)
Evan S. Posner, Secretary
Edward Jones Money Market Fund
c/o 12555 Manchester Road
St. Louis, MO 63131
(Name and address of Agent for service)
Registrant's telephone number, including area code: (314) 515-3289
Date of fiscal year end: February 28
Date of reporting period: August 31, 2024
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Shareholders
The following is a copy of the Registrant's semi-annual report.
|
EDWARD JONES MONEY MARKET FUND
INVESTMENT SHARES- JNSXX
|
August 31, 2024
|
Semi-annual Shareholder Report
This semi-annual shareholder report contains important information about the Edward Jones Money Market Fund (the "Fund") for the period of March 1, 2024 to August 31, 2024 (the "reporting period"). You can find additional information about the Fund at www.edwardjones.com/moneymarket. You can also request this information by contacting us at
1-800-441-2357.
1-800-441-2357.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
|
Cost of a
$10,000
investment
|
Cost paid as a % of a $10,000 investment |
|||||||
|
Investment Shares
|
$ | 36 | 0.71% |
Key Fund Statistics:
| Total Net Assets (000s) | $ | 29,923,626 | ||
| Number of Portfolio Holdings | 148 | |||
| Total Advisory Fee Paid (000s) | $ | 29,778 |
Graphical Representation of Holdings
(as a percentage of net assets)
Portfolio Composition by Effective Maturity1
Portfolio Composition by Security Type3
| 1 |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended, which regulates money market funds.
|
| 2 |
Assets, other than investments in securities, less liabilities.
|
| 3 |
See the Fund's Prospectus and Statement of Additional Information for descriptions of the principal types of securities in which the Fund invests.
|
Availability of Additional Information
You can find additional information on the Fund's website, www.edwardjones.com/moneymarketincluding its:
| • | prospectus |
| • | financial information |
| • | fund holdings |
| • | proxy voting information |
Householding
To reduce expense, the Fund may mail only one copy of the Prospectus, Statement of Additional Information and each annual & semi-annual Tailored Shareholder Report to those addresses shared by two or more accounts. If you wish to receive individual copies of these documents, please call the Fund at 1-800-441-2357. You will begin receiving copies thirty days after your request is received.
|
For additional information please scan the code for hosted material at https://www.edwardjones.com/moneymarket |
|
EDWARD JONES MONEY MARKET FUND
RETIREMENT SHARES- JRSXX
|
August 31, 2024
|
Semi-annual Shareholder Report
This semi-annual shareholder report contains important information about the Edward Jones Money Market Fund (the "Fund") for the period of March 1, 2024 to August 31, 2024 (the "reporting period"). You can find additional information about the Fund at www.edwardjones.com/moneymarket. You can also request this information by contacting us at
1-800-441-2357.
1-800-441-2357.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
|
Cost of a
$10,000
investment
|
Cost paid as a % of a $10,000 investment |
|||||||
|
Retirement Shares
|
$ | 37 | 0.72% |
Key Fund Statistics:
| Total Net Assets (000s) | $ | 29,923,626 | ||
| Number of Portfolio Holdings | 148 | |||
| Total Advisory Fee Paid (000s) | $ | 29,778 |
Graphical Representation of Holdings
(as a percentage of net assets)
Portfolio Composition by Effective Maturity1
Portfolio Composition by Security Type3
| 1 |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended, which regulates money market funds.
|
| 2 |
Assets, other than investments in securities, less liabilities.
|
| 3 |
See the Fund's Prospectus and Statement of Additional Information for descriptions of the principal types of securities in which the Fund invests.
|
Availability of Additional Information
You can find additional information on the Fund's website, www.edwardjones.com/moneymarketincluding its:
| • | prospectus |
| • | financial information |
| • | fund holdings |
| • | proxy voting information |
Householding
To reduce expense, the Fund may mail only one copy of the Prospectus, Statement of Additional Information and each annual & semi-annual Tailored Shareholder Report to those addresses shared by two or more accounts. If you wish to receive individual copies of these documents, please call the Fund at 1-800-441-2357. You will begin receiving copies thirty days after your request is received.
|
For additional information please scan the code for hosted material at https://www.edwardjones.com/moneymarket |
Item 2. Code of Ethics.
Not Applicable.
Item 3. Audit Committee Financial Expert.
The Registrant's board of trustees has determined that Timothy Jacoby, a member of the Board's Audit Committee is an "audit committee financial expert" and is "independent" for purposes of this Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
Not Applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable to registrants who are not listed issuers (as defined in Rule 10A-3under the Securities Exchange Act of 1934).
Item 6. Investments.
(a) The Registrant's Schedule of Investments is included as part of the Financial Statements filed under Item 7 of this form.
(b) Not Applicable.
Item 7. Financial Statements and Financial Highlights for Open-End Management Companies.
| Money Market Fund |
Semi-Annual Financial Statements
August 31, 2024 (Unaudited)
INVESTMENT SHARES (TICKER JNSXX)
RETIREMENT SHARES (TICKER JRSXX)
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| CONTENTS | ||||
| Portfolio of Investments | 1 | |||
| Statement of Assets and Liabilities | 8 | |||
| Statement of Operations | 9 | |||
| Statements of Changes in Net Assets | 10 | |||
| Financial Highlights | 11 | |||
| Notes to Financial Statements | 13 | |||
| Board Considerations of Investment Advisory Agreement and Sub-advisory and Sub-administration Agreement | 20 | |||
| Additional Information | 29 |
Portfolio of Investments
August 31, 2024 (Unaudited)
|
Principal Amount |
Value | |||||||
| U.S. GOVERNMENT AGENCY SECURITIES-20.56% | ||||||||
| Federal Farm Credit System Floating Rate Notes, 5.380% (SOFR +0.050%), 9/2/20241 | $ | 23,000,000 | $ | 22,998,470 | ||||
| Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.065%), 9/2/20241 | 20,000,000 | 20,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.080%), 9/2/20241 | 90,000,000 | 90,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.415% (SOFR +0.085%), 9/2/20241 | 63,000,000 | 62,996,719 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.090%), 9/2/20241 | 100,000,000 | 100,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.100%), 9/2/20241 | 300,000,000 | 299,990,663 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.435% (SOFR +0.105%), 9/2/20241 | 76,000,000 | 76,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.110%), 9/2/20241 | 159,000,000 | 159,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.450% (SOFR +0.120%), 9/2/20241 | 108,000,000 | 108,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.455% (SOFR +0.125%), 9/2/20241 | 60,000,000 | 60,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.460% (SOFR +0.130%), 9/2/20241 | 290,000,000 | 290,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.465% (SOFR +0.135%), 9/2/20241 | 30,000,000 | 30,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.140%), 9/2/20241 | 40,000,000 | 40,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.145%), 9/2/20241 | 50,000,000 | 50,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.485% (SOFR +0.155%), 9/2/20241 | 78,000,000 | 78,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.490% (SOFR +0.160%), 9/2/20241 | 55,000,000 | 55,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.495% (SOFR +0.165%), 9/2/20241 | 180,000,000 | 179,992,183 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.500% (SOFR +0.150%), 9/4/20241 | 40,000,000 | 40,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.500% (SOFR +0.170%), 9/2/20241 | 60,000,000 | 60,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.505% (SOFR +0.175%), 9/2/20241 | 75,000,000 | 75,000,000 | ||||||
| Federal Farm Credit System Floating Rate Notes, 5.530% (SOFR +0.200%), 9/2/20241 | 50,000,000 | 50,000,000 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.600%, 1/22/20252 | 65,000,000 | 63,812,306 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.640%, 1/27/20252 | 125,000,000 | 122,615,556 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.650%, 1/23/20252 | 74,000,000 | 72,623,600 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.650%, 2/03/20252 | 195,000,000 | 191,053,958 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.670%, 2/04/20252 | 75,000,000 | 73,482,250 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.735%, 11/08/20242 | 95,000,000 | 94,150,331 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.750%, 10/30/20242 | 25,000,000 | 24,805,382 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
1
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| U.S. GOVERNMENT AGENCY SECURITIES-(continued) | ||||||||
| Federal Home Loan Bank System Discount Notes, 4.765%, 10/25/20242 | $ | 25,000,000 | $ | 24,821,313 | ||||
| Federal Home Loan Bank System Discount Notes, 4.780%, 10/18/20242 | 25,000,000 | 24,843,986 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.785%, 1/28/20252 | 31,000,000 | 30,386,058 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.790%, 2/24/20252 | 72,000,000 | 70,313,920 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.795%, 10/11/20242 | 25,000,000 | 24,866,806 | ||||||
| Federal Home Loan Bank System Discount Notes, 4.960%, 3/20/20252 | 30,000,000 | 29,173,333 | ||||||
| Federal Home Loan Bank System Discount Notes, 5.260%, 9/20/20242 | 140,000,000 | 139,611,344 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.345% (SOFR +0.015%), 9/2/20241 | 285,000,000 | 285,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.350% (SOFR +0.020%), 9/2/20241 | 345,000,000 | 345,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.030%), 9/2/20241 | 205,000,000 | 205,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.370% (SOFR +0.040%), 9/2/20241 | 75,000,000 | 75,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.430% (SOFR +0.100%), 9/2/20241 | 142,000,000 | 142,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.435% (SOFR +0.105%), 9/2/20241 | 80,000,000 | 80,000,781 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.450% (SOFR +0.120%), 9/2/20241 | 60,000,000 | 60,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.455% (SOFR +0.125%), 9/2/20241 | 60,000,000 | 60,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.465% (SOFR +0.135%), 9/2/20241 | 30,000,000 | 30,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.485% (SOFR +0.155%), 9/2/20241 | 75,000,000 | 75,003,977 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.490% (SOFR +0.160%), 9/2/20241 | 145,000,000 | 145,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.530% (SOFR +0.200%), 9/2/20241 | 70,000,000 | 70,000,000 | ||||||
| Federal Home Loan Bank System Floating Rate Notes, 5.540% (SOFR +0.210%), 9/2/20241 | 90,000,000 | 90,000,000 | ||||||
| Federal Home Loan Bank System, 5.040%, 3/07/2025 | 125,000,000 | 125,000,000 | ||||||
| Federal Home Loan Bank System, 5.050%, 2/14/2025 | 150,000,000 | 150,000,000 | ||||||
| Federal Home Loan Bank System, 5.055%, 2/03/2025 | 120,000,000 | 120,000,000 | ||||||
| Federal Home Loan Bank System, 5.070%, 3/07/2025 | 130,000,000 | 130,000,000 | ||||||
| Federal Home Loan Bank System, 5.150%, 3/17/2025 | 150,000,000 | 150,000,000 | ||||||
| Federal Home Loan Bank System, 5.170%, 3/19/2025 | 130,000,000 | 130,000,000 | ||||||
| Federal Home Loan Bank System, 5.180%, 4/07/2025 | 125,000,000 | 125,000,000 | ||||||
| Federal Home Loan Bank System, 5.195%, 5/02/2025 | 130,000,000 | 130,000,000 | ||||||
| Federal Home Loan Bank System, 5.305%, 5/12/2025 | 125,000,000 | 125,000,000 | ||||||
| Federal Home Loan Bank System, 5.470%, 6/18/2025 | 130,000,000 | 130,000,000 | ||||||
| Federal Home Loan Bank System, 5.480%, 6/24/2025 | 125,000,000 | 125,000,000 | ||||||
| Federal Home Loan Bank System, 5.500%, 10/11/2024 | 33,000,000 | 32,999,535 | ||||||
| Federal National Mortgage Association Floating Rate Notes, 5.430% (SOFR +0.100%), 9/2/20241 | 65,000,000 | 65,000,000 | ||||||
| Federal National Mortgage Association Floating Rate Notes, 5.450% (SOFR +0.120%), 9/2/20241 | 19,000,000 | 19,000,000 | ||||||
|
Total U.S. Government Agency Securities |
6,152,542,471 | |||||||
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
2
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| U.S. TREASURY SECURITIES-21.94% | ||||||||
| U.S. Treasury Bill , 4.695%, 2/20/20252 | $ | 125,000,000 | $ | 122,196,042 | ||||
| U.S. Treasury Bill , 4.755%, 2/6/20252 | 55,000,000 | 53,852,196 | ||||||
| U.S. Treasury Bill , 4.810%, 3/20/20252 | 125,000,000 | 121,659,722 | ||||||
| U.S. Treasury Bill , 4.870%, 12/31/20242 | 210,000,000 | 206,619,408 | ||||||
| U.S. Treasury Bill , 4.915%, 4/17/20252 | 293,000,000 | 283,879,398 | ||||||
| U.S. Treasury Bill , 4.915%, 6/12/20252 | 200,000,000 | 192,245,222 | ||||||
| U.S. Treasury Bill , 4.930% - 4.935%, 5/15/20252 | 145,000,000 | 139,912,889 | ||||||
| U.S. Treasury Bill , 4.930%, 1/30/20252 | 73,000,000 | 71,490,461 | ||||||
| U.S. Treasury Bill , 4.990%, 1/23/20252 | 142,000,000 | 139,165,680 | ||||||
| U.S. Treasury Bill , 4.990%, 12/10/20242 | 435,000,000 | 428,970,418 | ||||||
| U.S. Treasury Bill , 5.090%, 12/3/20242 | 295,000,000 | 291,120,995 | ||||||
| U.S. Treasury Bill , 5.125%, 10/3/20242 | 290,000,000 | 288,678,889 | ||||||
| U.S. Treasury Bill , 5.135% - 5.153%, 10/31/20242 | 732,600,000 | 726,317,870 | ||||||
| U.S. Treasury Bill , 5.150%, 10/10/20242 | 444,000,000 | 441,522,850 | ||||||
| U.S. Treasury Bill , 5.175%, 10/15/20242 | 530,000,000 | 526,647,750 | ||||||
| U.S. Treasury Bill , 5.190%, 10/24/20242 | 35,000,000 | 34,732,571 | ||||||
| U.S. Treasury Bill , 5.190%, 10/8/20242 | 299,250,000 | 297,653,751 | ||||||
| U.S. Treasury Bill , 5.260%, 9/24/20242 | 140,000,000 | 139,529,522 | ||||||
| U.S. Treasury Floating Rate Notes, 5.169% (91-day T-Bill+0.125%), 9/4/20241 | 517,600,000 | 517,479,494 | ||||||
| U.S. Treasury Floating Rate Notes, 5.184% (91-day T-Bill+0.140%), 9/4/20241 | 115,000,000 | 114,985,151 | ||||||
| U.S. Treasury Floating Rate Notes, 5.194% (91-day T-Bill+0.150%), 9/4/20241 | 139,000,000 | 138,983,343 | ||||||
| U.S. Treasury Floating Rate Notes, 5.213% (91-day T-Bill+0.169%), 9/4/20241 | 270,500,000 | 270,522,960 | ||||||
| U.S. Treasury Floating Rate Notes, 5.214% (91-day T-Bill+0.170%), 9/4/20241 | 270,650,000 | 270,468,961 | ||||||
| U.S. Treasury Floating Rate Notes, 5.244% (91-day T-Bill+0.200%), 9/4/20241 | 535,000,000 | 535,025,464 | ||||||
| U.S. Treasury Floating Rate Notes, 5.289% (91-day T-Bill+0.245%), 9/4/20241 | 55,000,000 | 55,032,033 | ||||||
| U.S. Treasury Note, 0.250%, 6/30/2025 | 164,000,000 | 157,571,035 | ||||||
|
Total U.S. Treasury Securities |
6,566,264,075 | |||||||
| REPURCHASE AGREEMENTS-56.57% | ||||||||
| Interest in $778,000,000 joint repurchase agreement 5.33%, dated 8/30/2024 under which Bank of America, N.A. will repurchase securities provided as collateral for $778,460,749 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 2.000% - 4.000% with various maturities to 3/1/2051 and the market value of those underlying securities was $794,029,964. | 200,000,000 | 200,000,000 | ||||||
| Interest in $3,250,000,000 joint repurchase agreement 5.33%, dated 8/30/2024 under which Bank of Montreal will repurchase securities provided as collateral for $3,251,924,722 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities and a U.S. Treasury security, 0.000% - 8.000% with various maturities to 8/20/2054 and the market value of those underlying securities was $3,317,304,866. | 1,000,000,000 | 1,000,000,000 | ||||||
| Interest in $1,700,000,000 joint repurchase agreement 5.35%, dated 8/1/2024 under which Bank of Montreal will repurchase securities provided as collateral for $1,710,358,194 on 9/11/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 2.000% - 7.500% with various maturities to 2/20/2073 and the market value of those underlying securities was $1,759,242,883.3 | 350,000,000 | 350,000,000 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
3
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| REPURCHASE AGREEMENTS-(continued) | ||||||||
| Interest in $4,000,000,000 joint repurchase agreement 5.33%, dated 8/30/2024 under which Bank of Nova Scotia will repurchase securities provided as collateral for $4,002,368,889 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 2.000% - 7.500% with various maturities to 8/20/2054 and the market value of those underlying securities was $4,082,605,296. | $ | 900,000,000 | $ | 900,000,000 | ||||
| Interest in $450,000,000 joint repurchase agreement 5.35%, dated 8/1/2024 under which BMO Capital Markets Corp. will repurchase securities provided as collateral for $452,741,875 on 9/11/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 5.000% with various maturities to 8/20/2054 and the market value of those underlying securities was $463,645,051.3 | 50,000,000 | 50,000,000 | ||||||
| Interest in $1,950,000,000 joint repurchase agreement 5.36%, dated 5/28/2024 under which BNP Paribas Securities Corp. will repurchase securities provided as collateral for $1,986,291,667 on 9/30/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Treasury securities,0.000% -6.750% with various maturities to 11/15/2053 and the market value of those underlying securities was $2,026,038,537.3 | 225,000,000 | 225,000,000 | ||||||
| Interest in $3,000,000,000 joint repurchase agreement 5.34%, dated 7/2/2024 under which BofA Securities, Inc. will repurchase securities provided as collateral for $3,028,035,000 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Treasury securities, 0.125% - 4.875% with various maturities to 5/15/2054 and the market value of those underlying securities was $3,088,595,751.3 | 500,000,000 | 500,000,000 | ||||||
| Interest in $950,000,000 joint repurchase agreement 5.23%, dated 8/20/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $960,765,083 on 11/7/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.616% with various maturities to 8/1/2058 and the market value of those underlying securities was $970,860,964.3 | 150,000,000 | 150,000,000 | ||||||
| Interest in $4,300,000,000 joint repurchase agreement 5.35%, dated 8/8/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $4,326,839,167 on 9/19/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 0.000% - 8.000% with various maturities to 8/20/2074 and the market value of those underlying securities was $4,412,488,458.3 | 700,000,000 | 700,000,000 | ||||||
| Interest in $1,000,000,000 joint repurchase agreement 5.36%, dated 8/15/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,005,211,111 on 9/19/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 1.500% - 6.500% with various maturities to 9/1/2054 and the market value of those underlying securities was $1,022,885,467.3 | 200,000,000 | 200,000,000 | ||||||
| Interest in $1,000,000,000 joint repurchase agreement 5.39%, dated 7/30/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,009,881,667 on 10/4/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 3.000%-6.500%with various maturities to 6/1/2053 and the market value of those underlying securities was $1,025,345,162.3 | 200,000,000 | 200,000,000 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
4
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| REPURCHASE AGREEMENTS-(continued) | ||||||||
| Repurchase agreement 5.32%, dated 8/30/2024 under which Fixed Income Clearing Corporation - BNY Melllon will repurchase securities provided as collateral for $3,652,157,556 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Melllon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.500% with various maturities to 7/1/2060 and the market value of those underlying securities was $3,949,626,182. | $ | 3,650,000,000 | $ | 3,650,000,000 | ||||
| Repurchase agreement 5.32%, dated 8/30/2024 under which Fixed Income Clearing Corporation - Citigroup will repurchase securities provided as collateral for $1,000,591,111 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Melllon as tri-partyagent, were U.S. Treasury securities, 0.000% - 7.625% with various maturities to 8/15/2054 and the market value of those underlying securities was $1,020,000,000. | 1,000,000,000 | 1,000,000,000 | ||||||
| Interest in $1,100,000,000 joint repurchase agreement 5.33%, dated 8/30/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $1,100,651,444 on 9/3/2024. The securities provided as collateral at the end of the period held with JPMorgan Chase as tri-partyagent, were U.S. Government Agency securities, 1.500% - 7.000% with various maturities to 8/1/2054 and the market value of those underlying securities was $1,122,000,000. | 200,000,000 | 200,000,000 | ||||||
| Interest in $4,000,000,000 joint repurchase agreement 5.37%, dated 2/5/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $4,000,596,667 on 9/6/2024. The securities provided as collateral at the end of the period held with JPMorgan Chase as tri-partyagent, were U.S. Treasury securities, 0.375% - 4.500% with various maturities to 3/31/2028 and the market value of those underlying securities was $4,080,000,050.1,3 | 400,000,000 | 400,000,000 | ||||||
| Interest in $3,000,000,000 joint repurchase agreement 5.37%, dated 4/16/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $3,000,447,500 on 9/6/2024. The securities provided as collateral at the end of the period held with JPMorgan Chase as tri-partyagent, were U.S. Treasury securities, 0.500% - 2.625% with various maturities to 9/30/2027 and the market value of those underlying securities was $3,060,000,012.1,3 | 250,000,000 | 250,000,000 | ||||||
| Interest in $2,000,000,000 joint repurchase agreement 5.36%, dated 8/1/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $2,014,591,111 on 9/19/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.000% with various maturities to 6/1/2063 and the market value of those underlying securities was $2,049,874,515.3 | 500,000,000 | 500,000,000 | ||||||
| Repurchase agreement 5.34%, dated 8/30/2024 under which Pershing LLC will repurchase securities provided as collateral for $300,178,000 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 8.793% with various maturities to 7/20/2074 and the market value of those underlying securities was $306,779,600. | 300,000,000 | 300,000,000 | ||||||
| Repurchase agreement 5.33%, dated 8/30/2024 under which RBC Dominion Securities Inc. will repurchase securities provided as collateral for $2,001,184,444 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.000% with various maturities to 6/20/2054 and the market value of those underlying securities was $2,046,169,959. | 2,000,000,000 | 2,000,000,000 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
5
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| REPURCHASE AGREEMENTS-(continued) | ||||||||
| Interest in $4,000,000,000 joint repurchase agreement 5.19%, dated 8/22/2024 under which Royal Bank of Canada will repurchase securities provided as collateral for $4,044,403,333 on 11/8/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.500% with various maturities to 12/15/2064 and the market value of those underlying securities was $4,127,390,386.3 | $ | 800,000,000 | $ | 800,000,000 | ||||
| Interest in $3,000,000,000 joint repurchase agreement 5.35%, dated 8/14/2024 under which Royal Bank of Canada will repurchase securities provided as collateral for $3,016,050,000 on 9/19/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 0.833% - 7.500% with various maturities to 3/1/2061 and the market value of those underlying securities was $3,085,007,379.3 | 750,000,000 | 750,000,000 | ||||||
| Interest in $2,000,000,000 joint repurchase agreement 5.41%, dated 3/28/2024 under which Royal Bank of Canada will repurchase securities provided as collateral for $2,056,110,000 on 9/30/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 1.500% -7.836% with various maturities to 7/1/2060 and the market value of those underlying securities was $2,098,107,235.1,3 | 325,000,000 | 325,000,000 | ||||||
| Interest in $2,750,000,000 joint repurchase agreement 5.32%, dated 8/30/2024 under which Standard Chartered Bank will repurchase securities provided as collateral for $2,751,625,556 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Treasury securities, 0.000% - 5.000% with various maturities to 5/15/2054 and the market value of those underlying securities was $2,806,658,068. | 600,000,000 | 600,000,000 | ||||||
| Interest in $3,000,000,000 joint repurchase agreement 5.33%, dated 8/30/2024 under which Sumitomo Mistui Banking Corp. will repurchase securities provided as collateral for $3,001,776,667 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency and U.S. Treasury securities, 0.250% - 6.500% with various maturities to 1/1/2054 and the market value of those underlying securities was $3,061,812,225. | 78,000,000 | 78,000,000 | ||||||
| Interest in $1,000,000,000 joint repurchase agreement 5.34%, dated 8/30/2024 under which TD Securities (USA), LLC will repurchase securities provided as collateral for $1,000,593,333 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 3.000% - 6.853% with various maturities to 8/1/2059 and the market value of those underlying securities was $1,026,280,197. | 575,000,000 | 575,000,000 | ||||||
| Repurchase agreement 5.23%, dated 8/21/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $202,295,389 on 11/8/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 1.500% - 8.000% with various maturities to 5/1/2058 and the market value of those underlying securities was $204,385,277.3 | 200,000,000 | 200,000,000 | ||||||
| Repurchase agreement 5.36%, dated 7/9/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $201,846,222 on 9/9/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 2.000% - 6.675% with various maturities to 9/1/2054 and the market value of those underlying securities was $205,778,810.3 | 200,000,000 | 200,000,000 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
6
Portfolio of Investments
August 31, 2024 (Unaudited) (Continued)
|
Principal Amount |
Value | |||||||
| REPURCHASE AGREEMENTS-(continued) | ||||||||
| Repurchase agreement 5.36%, dated 8/27/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $425,442,944 on 9/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 1.500% - 7.500% with various maturities to 6/1/2056 and the market value of those underlying securities was $433,951,804. | $ | 425,000,000 | $ | 425,000,000 | ||||
| Repurchase agreement 5.40%, dated 8/15/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $201,050,000 on 9/19/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-partyagent, were U.S. Government Agency securities, 2.000% - 8.000% with various maturities to 8/1/2054 and the market value of those underlying securities was $204,581,400.3 | 200,000,000 | 200,000,000 | ||||||
|
Total Repurchase Agreements |
16,928,000,000 | |||||||
|
TOTAL INVESTMENTS-99.07% |
29,646,806,546 | |||||||
|
Other Assets and Liabilities - Net-0.93% |
276,819,204 | |||||||
|
TOTAL NET ASSETS-100% |
$ | 29,923,625,750 | ||||||
| SOFR |
- Secured Overnight Financing Rate |
| 1 |
Floating rate instruments with current rate(s) and next reset date(s) shown. |
| 2 |
Discount yield(s) at time of purchase. |
| 3 |
Although the repurchase date is more than seven days after the date of purchase, the Fund has the right to terminate the repurchase agreement at any time with seven-days' notice. |
| 4 |
Also represents cost for federal tax purposes. |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
7
Statement of Assets and Liabilities
August 31, 2024 (Unaudited)
| Assets: | |||||
| Investment in repurchase agreements | $ | 16,928,000,000 | |||
| Investment in securities | 12,718,806,546 | ||||
| Total investment in securities, at amortized cost and fair value | 29,646,806,546 | ||||
| Cash | 546,031,999 | ||||
| Income receivable | 82,828,897 | ||||
| Receivable for shares sold | 757,389,375 | ||||
| Prepaid expenses | 156,601 | ||||
|
Total Assets |
31,033,213,418 | ||||
| Liabilities: | |||||
| Payable for investments purchased | 246,619,407 | ||||
| Payable for shares redeemed | 803,391,800 | ||||
| Income distribution payable | 41,098,572 | ||||
| Payable to Adviser | 5,003,481 | ||||
| Payable for Trustees' fees | 394 | ||||
| Payable for 12b-1distribution service fees | 6,254,352 | ||||
| Payable for shareholder service fees | 3,752,611 | ||||
| Accrued expenses | 3,467,051 | ||||
|
Total Liabilities |
1,109,587,668 | ||||
| Net Assets | $ | 29,923,625,750 | |||
| Net Assets Consist of: | |||||
| Paid-incapital | 29,923,705,088 | ||||
| Distributable accumulated gain/(loss) | (79,338 | ) | |||
|
Net Assets |
$ | 29,923,625,750 | |||
| Net Asset Value | ||||
| Investment Shares: | ||||
| Net Assets | $ | 21,352,205,064 | ||
| Shares Outstanding | 21,352,267,674 | |||
| Net Asset Value | $ | 1.00 | ||
| Retirement Shares: | ||||
| Net Assets | $ | 8,571,420,686 | ||
| Shares Outstanding | 8,571,437,367 | |||
| Net Asset Value | $ | 1.00 |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
8
Statement of Operations
Six Months Ended August 31, 2024 (Unaudited)
| Investment Income: | |||||
| Interest | $ | 801,713,613 | |||
| Expenses: | |||||
| Investment adviser fees | 29,778,584 | ||||
| Custodian fees | 168,787 | ||||
| Transfer agent fees: | |||||
|
Investment shares |
8,812,688 | ||||
|
Retirement shares |
25,635,448 | ||||
| Trustees' fees | 221,748 | ||||
| Professional fees | 254,167 | ||||
| Accounting and administrative fees | 378,697 | ||||
| 12b-1distribution service fees: | |||||
|
Investment shares |
26,837,841 | ||||
|
Retirement shares |
10,385,389 | ||||
| Shareholder service fees: | |||||
|
Investment shares |
16,102,705 | ||||
|
Retirement shares |
6,231,233 | ||||
| Share registration fees | 1,051,693 | ||||
| Printing and mailing fees | 1,322,974 | ||||
| Miscellaneous fees | 195,261 | ||||
|
Total Expenses Before Fee Waivers/Reimbursements |
127,377,215 | ||||
| Voluntary waivers/reimbursements of other operating expenses | (21,652,408 | ) | |||
| Net Expenses | 105,724,807 | ||||
| Net Investment Income | 695,988,806 | ||||
| Net Increase in Net Assets Resulting from Operations | $ | 695,988,806 | |||
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
9
Statements of Changes in Net Assets
|
Six Months 8/31/2024 (Unaudited) |
Year Ended 2/29/2024 |
|||||||||
| Operations: | ||||||||||
| Net investment income | $ | 695,988,806 | $ | 1,276,080,900 | ||||||
| Net realized gain/(loss) on investments | - | 96,158 | ||||||||
|
Net Increase/(Decrease) in Net Assets Resulting from Operations |
695,988,806 | 1,276,177,058 | ||||||||
| Distributions to Shareholders From Distributable Earnings: | ||||||||||
| Investment shares | (502,146,207 | ) | (920,590,829 | ) | ||||||
| Retirement shares | (193,938,757 | ) | (355,930,706 | ) | ||||||
|
Total Distributions |
(696,084,964 | ) | (1,276,521,535 | ) | ||||||
| Capital Transactions | ||||||||||
| Investment shares | ||||||||||
| Proceeds from shares sold | 53,627,043,928 | 103,027,805,347 | ||||||||
| Reinvestment of dividends | 491,756,806 | 900,598,825 | ||||||||
| Cost of shares redeemed | (54,378,823,562 | ) | (103,222,683,152 | ) | ||||||
|
Net increase/(decrease) from capital transactions |
(260,022,828 | ) | 705,721,020 | |||||||
| Retirement shares | ||||||||||
| Proceeds from shares sold | 56,329,224,134 | 99,573,560,552 | ||||||||
| Reinvestment of dividends | 187,400,572 | 343,960,115 | ||||||||
| Cost of shares redeemed | (56,404,111,819 | ) | (99,691,660,982 | ) | ||||||
|
Net increase/(decrease) from capital transactions |
112,512,887 | 225,859,685 | ||||||||
|
Net Change Resulting from Total Fund Share Transactions |
(147,509,941 | ) | 931,580,705 | |||||||
| Net Increase/(Decrease) in Net Assets | (147,606,099 | ) | 931,236,228 | |||||||
| Net Assets: | ||||||||||
| Beginning of period | 30,071,231,849 | 29,139,995,621 | ||||||||
| End of period | $ | 29,923,625,750 | $ | 30,071,231,849 | ||||||
| Changes in Shares Outstanding: | ||||||||||
| Investment Shares | ||||||||||
| Shares outstanding, beginning of period | 21,612,290,502 | 20,906,569,482 | ||||||||
| Shares sold | 53,627,043,928 | 103,027,805,347 | ||||||||
| Shares issued to holders in reinvestment of dividends | 491,756,806 | 900,598,825 | ||||||||
| Shares redeemed | (54,378,823,562 | ) | (103,222,683,152 | ) | ||||||
|
Shares Outstanding, End of Period |
21,352,267,674 | 21,612,290,502 | ||||||||
| Retirement Shares | ||||||||||
| Shares outstanding, beginning of period | 8,458,924,480 | 8,233,064,795 | ||||||||
| Shares sold | 56,329,224,134 | 99,573,560,552 | ||||||||
| Shares issued to holders in reinvestment of dividends | 187,400,572 | 343,960,115 | ||||||||
| Shares redeemed | (56,404,111,819 | ) | (99,691,660,982 | ) | ||||||
|
Shares Outstanding, End of Period |
8,571,437,367 | 8,458,924,480 | ||||||||
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
10
Financial Highlights - Investment Shares
|
Per Share Operating Performance |
Six Months Ended (unaudited) 8/31/2024 |
Year Ended February 29 or 28, | ||||||||||||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
| Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||||||||||||||||||||
| Increase/(Decrease) in Operations: | ||||||||||||||||||||||||||||||
| Net investment income | 0.024 | 0.045 | 0.017 | 0.000 | 1 | 0.000 | 1 | 0.014 | ||||||||||||||||||||||
| Net realized gain/(loss) on investments | (0.000 | )1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | ||||||||||||||||||
|
Total from Investment Operations |
0.024 | 0.045 | 0.017 | 0.000 | 1 | 0.000 | 1 | 0.014 | ||||||||||||||||||||||
| Less Distributions From: | ||||||||||||||||||||||||||||||
| Net investment income | (0.024 | ) | (0.045 | ) | (0.017 | ) | (0.000 | )1 | (0.000 | )1 | (0.014 | ) | ||||||||||||||||||
| Net realized gain/(loss) on investments | (0.000 | )1 | (0.000 | )1 | - | (0.000 | )1 | - | - | |||||||||||||||||||||
|
Total Distributions |
(0.024 | ) | (0.045 | ) | (0.017 | ) | (0.000 | )1 | (0.000 | )1 | (0.014 | ) | ||||||||||||||||||
| Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||||||||||||||||||||
| Total Return2 | 2.38 | % | 4.61 | % | 1.70 | % | 0.01 | % | 0.04 | % | 1.45 | % | ||||||||||||||||||
| Supplemental Data: | ||||||||||||||||||||||||||||||
| Net assets, end of period (000's omitted) | $21,352,205 | $21,612,297 | $20,906,825 | $25,924,540 | $24,815,633 | $22,238,699 | ||||||||||||||||||||||||
| Ratios to Average Net Assets:3 | ||||||||||||||||||||||||||||||
| Expenses before waivers | 0.71 | % | 0.71 | % | 0.70 | % | 0.69 | % | 0.68 | % | 0.69 | % | ||||||||||||||||||
| Expenses net of waivers | 0.71 | % | 0.71 | % | 0.62 | % | 0.06 | % | 0.25 | % | 0.69 | % | ||||||||||||||||||
| Net investment income | 4.68 | % | 4.52 | % | 1.59 | % | 0.01 | % | 0.04 | % | 1.44 | % |
| 1 |
Represents less than $0.0005 per share. |
| 2 |
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period and is not annualized. |
| 3 |
Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
11
Financial Highlights - Retirement Shares
|
Per Share Operating Performance |
Six Months Ended (unaudited) 8/31/2024 |
Year Ended February 29 or 28, | ||||||||||||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||||||||||||||||||||||||||
| Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||||||||||||||||||||
| Increase/(Decrease) in Operations: | ||||||||||||||||||||||||||||||
| Net investment income | 0.024 | 0.045 | 0.017 | 0.000 | 1 | 0.000 | 1 | 0.014 | ||||||||||||||||||||||
| Net realized gain/(loss) on investments | (0.000 | )1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | 0.000 | 1 | ||||||||||||||||||
|
Total from Investment Operations |
0.024 | 0.045 | 0.017 | 0.000 | 1 | 0.000 | 1 | 0.014 | ||||||||||||||||||||||
| Less Distributions From: | ||||||||||||||||||||||||||||||
| Net investment income | (0.024 | ) | (0.045 | ) | (0.017 | ) | (0.000 | )1 | (0.000 | )1 | (0.014 | ) | ||||||||||||||||||
| Net realized gain/(loss) on investments | (0.000 | )1 | (0.000 | )1 | - | (0.000 | )1 | - | - | |||||||||||||||||||||
|
Total Distributions |
(0.024 | ) | (0.045 | ) | (0.017 | ) | (0.000 | )1 | (0.000 | )1 | (0.014 | ) | ||||||||||||||||||
| Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||||||||||||||||||||
| Total Return2 | 2.38 | % | 4.61 | % | 1.69 | % | 0.01 | % | 0.04 | % | 1.42 | % | ||||||||||||||||||
| Supplemental Data: | ||||||||||||||||||||||||||||||
| Net assets, end of period (000's omitted) | $8,571,421 | $8,458,935 | $8,233,171 | $9,958,845 | $10,242,585 | $7,556,180 | ||||||||||||||||||||||||
| Ratios to Average Net Assets:3 | ||||||||||||||||||||||||||||||
| Expenses before waivers | 1.24 | % | 1.25 | % | 1.13 | % | 1.04 | % | 1.05 | % | 1.15 | % | ||||||||||||||||||
| Expenses net of waivers | 0.72 | % | 0.72 | % | 0.63 | % | 0.06 | % | 0.25 | % | 0.72 | % | ||||||||||||||||||
| Net investment income | 4.67 | % | 4.51 | % | 1.58 | % | 0.01 | % | 0.03 | % | 1.41 | % |
| 1 |
Represents less than $0.0005 per share. |
| 2 |
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period and is not annualized. |
| 3 |
Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements
12
Notes to Financial Statements
August 31, 2024 (Unaudited)
1. ORGANIZATION
Edward Jones Money Market Fund (the "Fund") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a diversified, open-endmanagement investment company. The Fund operates as a "government money market fund," as such term is defined in or interpreted under Rule 2a-7of the 1940 Act and was established under the laws of the Commonwealth of Massachusetts on January 9, 1980. Olive Street Investment Advisers, LLC ("Olive Street" or "Adviser"), a wholly owned subsidiary of The Jones Financial Companies, L.L.L.P. ("JFC"), serves as the Fund's investment adviser and administrator. Federated Investment Management Company (the "Sub-adviser")and Federated Administrative Services (the "Sub-Administrator")serve as the Fund's Sub-adviserand Sub-Administrator,respectively.
The Fund offers two classes of shares: Investment Shares and Retirement Shares. All shares of the Fund have equal rights with respect to voting, except on class specific matters.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The accounting policies are in conformity with generally accepted accounting principles ("GAAP") in the United States of America. The Fund is an investment company and, accordingly, follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 - Investment Companies, which is part of GAAP.
a) Use of Estimates - The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
b) Investment Valuation - All securities and other investments are recorded at their estimated fair value, as described in Note 4.
c) Federal Income Taxes - It is the Fund's policy to comply with Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its net investment income and capital gains to shareholders. As a result, no provision for Federal income tax is recorded in the financial statements.
The Adviser has reviewed the Fund's tax positions for all open tax years (the prior three years of tax filings) and has concluded that there is no tax liability/benefit resulting from uncertain income tax positions taken or expected to be taken in future tax returns. The Fund is also not aware of any tax position for which it is reasonably possible that the total amounts of unrecognized tax expense will significantly change in the next twelve months.
As of August 31, 2024, the Fund had no tax examinations or audits in progress.
d) Distributions to Shareholders - Distributions from net investment income are generally declared daily and paid monthly and are declared separately for each class. No class has preferential dividend rights; differences in per share dividend rates are generally due to differences in the class specific expenses.
Semi-Annual Financial Statements
13
Notes to Financial Statements
August 31, 2024 (Unaudited) (Continued)
e) Indemnifications - Under the Fund's organizational documents, the officers and Board of Trustees (the "Trustees") are entitled to certain indemnification rights against certain liabilities that may arise out of performance of their duties to the Fund. Additionally, in the normal course of business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown, as this would involve future claims against the Fund that have not yet occurred.
f) Investment Transactions, Income and Expense Allocation - Investment transactions are recorded on trade date. Securities gains and losses, if any, are calculated on the basis of identified cost. Interest income is recognized on an accrual basis while discounts and premiums on securities purchased are accreted or amortized, respectively, using the constant yield method over the life of the security. In calculating the NAV of each class, investment income, realized and unrealized gains and losses and expenses, other than class specific expenses, are allocated daily to each class of shares based on the relative proportion of average daily net assets of each class.
g) Regulatory Updates - In November 2022, the U.S. Securities and Exchange Commission ("SEC") adopted amendments to the requirements for annual and semiannual shareholder reports provided by mutual funds and exchange-traded funds (ETFs) to highlight key information for investors. The amendments also require that funds tag their reports to shareholders using the Inline eXtensible Business Reporting Language ("Inline XBRL") structured data language to provide machine-readable data that retail investors and other market participants may use to more efficiently access and evaluate investments. The SEC also adopted amendments to the advertising rules for registered investment companies and business development companies to promote more transparent and balanced statements about investment costs. The effective date for the amendments was January 24, 2023. The SEC adopted an eighteen-month transition period beginning from the effective date for the new shareholder report amendments. The Fund has complied with these amendments through the creation of a tailored shareholder report and updated financial statements, as per the SEC requirements.
In July 2023, the SEC adopted amendments to the rules that govern money market funds ("Amendments"). These Amendments are in response to stresses in the fixed income markets at the onset of the COVID-19pandemic in March 2020. Along with changes related to liquidity thresholds there are additional reporting requirements for money market funds on Form N-CR and Form N-MFP.There were multiple compliance dates for the Amendments, and the final compliance date related to the new reporting requirements on Form N-CR and Form N-MFP went into effect June 2024. The Fund has complied with these amendments and met both compliance deadlines of the rules.
3) SECURITIES AND OTHER INVESTMENTS
Repurchase Agreements
In a repurchase agreement, a fund buys a security from another party (the counterparty), usually a financial institution, with the agreement that it be sold back in the future. Repurchase agreements subject the Fund to counterparty risk, meaning that the Fund could lose money if the other party fails to perform under the terms of the agreement. The Fund mitigates this risk by seeking to ensure that the Fund's repurchase agreements are collateralized by cash and/or U.S. government securities. The minimum amount of collateral held by the Fund is equal to the value of the repurchase price plus accrued interest. All collateral is held by the Fund's custodian (or, with multi-party agreements, the agent's bank) and is monitored daily to seek to ensure that its market value is at least equal to the repurchase price under the agreement. In the event of a
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Notes to Financial Statements
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default by the counterparty, realization of the collateral proceeds could be delayed or limited and the value of the collateral may decline. Investments in repurchase agreements are also based on a review of the credit quality of the repurchase agreement counterparty.
The Fund may enter into repurchase agreements in which eligible securities and/or cash are transferred into joint trading accounts maintained by the custodian or sub-custodianfor investment companies and other clients advised by the Sub-adviserand its affiliates. The Fund will participate on a pro rata basis with the other investment companies and clients in its share of the securities transferred under such repurchase agreements and in its share of proceeds from any repurchase or other disposition of such securities.
Repurchase agreements are subject to Master Netting Agreements, which are agreements between the Fund and its counterparties that provide for the net settlement of all transactions and collateral with the Fund through a single payment, in the event of default or termination. Amounts presented on the Portfolio of Investments and Statement of Assets and Liabilities are gross settlement amounts. As indicated above, the cash or value of securities to be repurchased, as shown on the Portfolio of Investments, exceeds the repurchase price to be paid under the agreement, reducing the net settlement amount to zero.
4. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS
a) Investment Valuation Policies - Portfolio securities are valued at amortized cost, which approximates fair value, in accordance with Rule 2a-7under the 1940 Act. The amortized cost of an investment is determined by valuing it at its original cost and thereafter accreting and amortizing any discount or premium from its face value at a constant rate until maturity. If amortized cost is determined not to approximate fair value, the value of the portfolio securities will be determined in accordance with the procedures described below.
The Trustees have ultimate responsibility for determining the fair value of investments. Pursuant to Rule 2a-5under the 1940 Act, the Trustees have designated the Adviser as the valuation designee for the Fund responsible for determining fair value of securities and in overseeing the comparison of amortized cost valuations to market-based valuations. The Adviser has established a Valuation Committee (the "Valuation Committee") with members from relevant departments within the Adviser to assist the Adviser in carrying out its responsibilities under Rule 2a-5and in accordance with the Adviser's valuation policy and procedures. The Trustees have also authorized the Adviser, as valuation designee for the Fund, to select pricing services to provide fair value evaluations of the current value of certain investments for purposes of monitoring the relationship between market-based valuations and amortized cost valuations. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs and assumptions).
b) Fair Value Hierarchy - Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities.
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.
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Notes to Financial Statements
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Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
As of August 31, 2024, all investments of the Fund were valued at amortized cost, which is considered a Level 2 input, in valuing the Fund's assets.
5. FEES AND OTHER TRANSACTIONS WITH AFFILITATES
Investment Adviser Fee - Olive Street, an investment adviser registered with the SEC, serves as the investment adviser and administrator to the Fund pursuant to an Investment Management and Administration Agreement with the Fund dated November 2, 2022 (the "Advisory Agreement").
As the Adviser, Olive Street has overall supervisory responsibility for the general management and investment of the Fund's investment portfolio, is subject to review and approval by the Trustees and sets the Fund's overall investment strategies. The Adviser is also responsible for the oversight and evaluation of the Fund's Sub-adviser.For its investment advisory and administrative services, the Adviser receives an annual fee of 0.20% of the Fund's average daily net assets.
Expense Limitation Agreement - The Adviser has contractually agreed to waive fees and/or reimburse Fund operating expenses to the extent necessary to limit the Fund's total annual operating expenses (excluding acquired fund fees and expenses, portfolio transaction expenses, interest expense in connection with investment activities, taxes and extraordinary or non-routineexpenses) to an annual rate of 0.72% of the average daily net assets of the Fund's Investment Shares and Retirement Shares (the "Expense Limitation Agreement"). Any payment made by the Adviser in connection with the Expense Limitation Agreement is subject to recoupment by the Adviser in the rolling thirty-six(36) month period following such fee waiver and/or expense payment, if (i) requested by the Adviser, and (ii) the aggregate amount actually paid by a class of the Fund toward operating expenses (taking into account other recoupments) does not exceed the expense cap (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of recoupment.
This Expense Limitation Agreement will remain in effect until June 30, 2025, and may only be changed or eliminated with the approval of the Trustees during such period. The Expense Limitation Agreement shall be automatically renewed for successive one-yearperiods thereafter unless the Adviser provides the Trustees with written notice of its election to not renew the agreement at least 60 days prior to the end of the current one-yearterm. Additionally, on behalf of the Adviser, Edward D. Jones & Co., L.P. ("Edward Jones") voluntarily waived $21,652,408 of transfer agent fees during the six months ended August 31, 2024. Edward Jones waived these fees to ensure that the net expense ratio of each class of shares did not exceed 0.72%. These voluntary waivers were not subject to future recoupment.
In addition to the Expense Limitation Agreement, the Adviser and/or its affiliates have agreed to voluntarily reimburse expenses (except fees paid to the Sub-adviserand Sub-Administrator)and/or waive all or a portion of its fees for the Fund to the extent necessary to seek to maintain a positive yield for the Fund (the "Adviser Voluntary Reduction"). The Adviser Voluntary Reduction is not subject to recoupment and can be discontinued or reinstated at any time without advance notice. There is no guarantee that the Adviser Voluntary Reduction will continue or that the Fund will be able to maintain a positive yield. There were no voluntary waivers by the Adviser and its affiliates for the six months ended August 31, 2024.
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Notes to Financial Statements
August 31, 2024 (Unaudited) (Continued)
Sub-advisoryFee - Pursuant to the terms of the Sub-advisoryand Sub-AdministrationAgreement, the Sub-adviserprovides sub-advisoryservices to the Fund, including buying and selling portfolio securities, and the Sub-Administrator,an affiliate of the Sub-adviser,provides sub-administrativeservices to the Fund, subject to the supervision of the Adviser and the Trustees. For its sub-advisoryand sub-administrativeservices, the Sub-adviserand the Sub-Administratorreceive an annual fee, payable monthly, directly from the Fund based on the average daily net assets of the Fund. For the purposes of determining the compensation under the Advisory Agreement, the Fund will be deemed to have paid the Adviser, and the Adviser will be deemed to have received, an amount equal to any payment made pursuant to the Sub-advisoryand Sub-AdministrationAgreement. The amounts paid to the Sub-adviserand the Sub-Administratorare included in the investment adviser fees in the Statement of Operations.
Sub-Sub-AdvisoryAgreement with Federated Hermes (UK) LLP - In the event that a business continuity planning event causes the complete or partial inability of the Sub-adviserto perform the investment sub-advisoryservices under the Sub-advisoryand Sub-AdministrationAgreement (a "BCP Event"), the Sub-adviserwill delegate its duties and obligations with respect to investment sub-advisoryservices (but not sub-administrativeservices) under the Sub-advisoryand Sub-AdministrationAgreement to Federated Hermes (UK) LLP (the "Sub-Sub-adviser"),an affiliate of the Sub-adviser,pursuant to a Sub-Sub-AdvisoryAgreement (the "Sub-Sub-AdvisoryAgreement") to be entered into by the Sub-adviserand the Sub-Sub-adviserupon the occurrence of the BCP Event. Any fees payable to the Sub-Sub-adviserwill be paid by the Sub-adviser(and not the Adviser or the Fund).
12b-1Distribution Service Fees - The Trustees have adopted, and the Fund's shareholders have approved, a Rule 12b-1Plan, pursuant to which distribution and/or service fees of 0.25% of the average daily net assets of the Investment Shares and Retirement Shares of the Fund are paid to Edward Jones for the sale and distribution of Fund shares, and for personal shareholder services provided to Investment Shares and Retirement Shares shareholders.
Administrative Shareholder Service Fees - The Trustees have adopted an amended and restated administrative shareholder services plan, pursuant to which Investment Shares and Retirement Shares may pay administrative shareholder service fees of 0.15% of their average daily net assets to Edward Jones for providing certain administrative shareholder service activities or similar non-distributionservices, including sweep and banking style administrative services, to Investment Shares and Retirement Shares shareholders.
Transfer Agent - Edward Jones serves as transfer agent for the Fund. The transfer agent fee paid to Edward Jones is based on the balance and number of accounts in the Fund.
6. FEDERAL INCOME TAX INFORMATION
The tax character of distributions as reported on the Statements of Changes in Net Assets for the years ended February 29, 2024 and February 28, 2023 were as follows:
| 2024 | 2023 | |||||||
|
Ordinary income1 |
$ | 1,276,521,535 | $ | 506,545,612 | ||||
|
Long-term capital gains |
$ | - | $ | - |
| 1 |
For tax purposes, short-term capital gain distributions are treated as ordinary income distributions. |
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Notes to Financial Statements
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As of February 29, 2024, the components of distributable earnings on a tax basis were as follows:
|
Undistributed ordinary income |
$ | 16,876 |
The Fund had no capital loss carryforward available for offset as of February 29, 2024.
7. RISKS
Investing in the Fund may involve certain risks including, but not limited to, those described below. Please refer to the Fund's prospectus and statement of additional information for more information on risks associated with investing in the Fund.
Investment Risk - You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. If the Fund or another money market fund fails to maintain a stable NAV (or such perception exists in the marketplace), the Fund could be subject to increased redemptions, which may adversely impact the Fund's Share price.
Counterparty Risk - A party to a transaction involving the Fund, including a counterparty to a repurchase agreement, may default or otherwise be unable or unwilling, or be perceived by the marketplace to be unable or unwilling, to meet its obligations. This could cause the Fund to suffer delays and incur costs or lose money in exercising its rights under the transaction.
Interest Rate Risk - Prices of fixed-income securities generally fall when interest rates rise and generally rise when interest rates fall. In general, interest rate changes have a greater effect on the price of fixed income securities with longer maturities. Although variable and floating rate securities are generally less sensitive to interest rate changes than fixed rate instruments, during periods of rising interest rates the value of floating rate and variable rate securities may also decline if their interest rates do not rise as quickly, or as much, as general interest rates. Similarly, during periods of declining interest rates, variable and floating rate securities generally will not increase in value as much as fixed rate instruments. A low or negative interest rate environment poses additional risks to the Fund because low yields on the Fund's portfolio holdings may have an adverse impact on the Fund's yield to its shareholders. During these conditions, it is possible that the Fund will generate an insufficient amount of income to pay its expenses, and that it will not be able to pay a daily dividend and may have a negative yield (i.e., it may lose money on an operating basis). Fluctuations in interest rates may also affect the liquidity of the fixed-income securities held by the Fund. As a result, it is possible that the Fund would, during these conditions, maintain a substantial portion of its assets in cash, on which it may earn little, if any, income. Changes in monetary policy made by central banks and/or their governments or changes in economic conditions may affect the level of interest rates, which could have sudden or unpredictable effects on the markets. A sudden or unpredictable rise or decline in interest rates may cause volatility and reduced liquidity in the money market securities markets, which could make it more difficult for the Fund to sell its investments at a time when it may be advantageous to do so and could cause the value of the Fund's investments to decline, potentially suddenly and significantly.
Technology Risk - Various technologies are used in managing the Fund, consistent with its investment objective and strategy. For example, proprietary and third-party data and systems are
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Notes to Financial Statements
August 31, 2024 (Unaudited) (Continued)
utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
Risk Related to the Economy - The market value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Economic, political, and financial conditions or industry or economic trends and developments, as well as government defaults, government shutdowns, war, acts of terrorism, regional conflicts, social unrest, and recessions, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects that could negatively impact the Fund's performance. In addition, the impact of any epidemic, pandemic (such as COVID-19),natural disaster, spread of infectious illness or other public health issue, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund.
8. SUBSEQUENT EVENTS
Management has evaluated subsequent events through the date of issuance of this report and has determined that there are no material events that would require accrual or disclosure.
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Board Consideration of Investment Management and Administration Agreement, Sub-advisoryand Sub-administrationAgreement (Unaudited)
Pursuant to Section 15 of the Investment Company Act of 1940 (the "1940 Act"), the Board of Trustees (the "Board" or the "Trustees") of the Edward Jones Money Market Fund (the "Fund"), including a majority of the Trustees who are not parties to the agreements or "interested persons" of any party, as defined in the 1940 Act (the "Independent Trustees"), must determine annually whether to approve the continuation of the Fund's investment advisory and sub-advisoryagreements.
At an in-personmeeting of the Board held on May 29-30,2024 (the "May Renewal Meeting"), the Board, including the Independent Trustees, considered and approved the continuance of: (i) an investment management and administration agreement (the "Advisory Agreement") between Olive Street Investment Advisers, LLC (the "Adviser") and the Fund and (ii) a sub-advisoryand sub-administrationagreement by and among the Adviser, Federated Investment Management Company (the "Subadviser"), Federated Administrative Services ("FAS") and the Fund (the "Sub-advisoryAgreement" and together with the Advisory Agreement, the "Agreements").
In connection with the annual contract review process and in advance of the May Renewal Meeting, the Adviser and the Subadviser provided information to the Board in response to requests for information by the Independent Trustees to facilitate the Board's evaluation of the Agreements. The information furnished by the Adviser and the Subadviser included materials describing, among other matters: (i) the nature, extent, and quality of the services provided by the Adviser and the Subadviser to the Fund; (ii) the Fund's historical investment performance, including in comparison to an appropriate peer group of mutual funds; (iii) the Adviser's and the Subadviser's business, operations and personnel, including portfolio managers; (iv) the investment practices and techniques used by the Adviser and the Subadviser in managing the Fund; (v) the management fee payable by the Fund to the Adviser under the Advisory Agreement and the Fund's overall fees and operating expenses, including in comparison to those of an appropriate peer group of mutual funds; (vi) the fee for sub-advisoryand sub-administrationservices payable to the Subadviser under the Sub-AdvisoryAgreement; (vii) the Adviser's and the Subadviser's compliance programs and related policies and procedures; (viii) the financial condition of the Adviser and the Sub-Adviser;and (ix) other "fall-out"benefits the Adviser and/or its affiliates and the Subadviser may receive based on their relationships with the Fund. At a meeting of the Board held on May 2, 2024 and at the May Renewal Meeting (collectively, the "May Meetings"), representatives of the Adviser made presentations to and responded to questions from the Trustees regarding services, fees, and other aspects of the Agreements.
In addition to the May Meetings, the Board met periodically over the course of the year. At these meetings, representatives of the Adviser and the Subadviser, furnished reports and other information to the Board, and engaged in discussions with the Board, regarding, among other things, the performance of the Fund, the services provided to the Fund by the Adviser and its affiliates and the Subadviser, the Adviser's evaluation of the Sub-Adviserand the Adviser's monitoring and supervision of the Fund's other service providers, the Fund's distribution and servicing arrangements and related compensation, and compliance, risk management and operational matters related to the Fund, the Adviser and the Subadviser. In addition, the Board received information between regularly scheduled meetings on particular matters as the need arose. All of these submissions, reports and discussions were considered by the Board in the context of, among other things, the history of money market funds and the investments available to such funds, as well as the market and interest rate environments in which the Fund operates and the regulatory requirements applicable to money market funds.
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Board Consideration of Investment Management and Administration Agreement, Sub-advisoryand Sub-administrationAgreement (Unaudited) (Continued)
Throughout the evaluation process, including at the May Meetings, the Trustees received advice from Fund counsel, and the Independent Trustees received separate advice from their independent legal counsel, including detailed memoranda from independent legal counsel regarding the legal standards applicable to the consideration of the approval of the Agreements. In connection with their deliberations, the Independent Trustees met separately with their independent legal counsel on May 1, 2024 and in executive session and other informal meetings on several occasions, outside the presence of the interested Trustees, Fund officers, and representatives of the Adviser and the Subadviser, to consider their responsibilities under relevant laws and to discuss the Agreements and materials presented and other matters deemed relevant to their consideration of the approval of the Agreements.
In considering and approving the Agreements, the Trustees considered information that they deemed relevant, including, but not limited to, the information discussed in further detail below. The Board's decision to approve the continuation of the Agreements was based on a comprehensive consideration of all information provided to the Board throughout the year and specifically in connection with the May Meetings, as well as the knowledge gained over time through previous interactions with the Adviser and the Subadviser. The Board did not identify any particular information or consideration that was all-importantor controlling, and each individual Trustee may have attributed different weights to various factors and information. The discussion below is intended to summarize the broad factors that figured prominently in the Board's decision to approve the continuation of the Agreements rather than to be all-inclusive.
1. The Nature, Extent and Quality of the Services Provided by the Adviser and the Subadviser. The Board considered the nature, extent and quality of the services provided to the Fund by the Adviser and the Subadviser under the Agreements, including their respective responsibilities for management of the Fund. In this regard, the Board considered the Adviser's oversight role and responsibilities with regard to the Subadviser, and the Subadviser's role in the day-to-daymanagement of the Fund's portfolio. The Board evaluated information about the nature and extent of responsibilities retained and risks assumed by the Adviser that were not delegated to or assumed by the Subadviser, including the Adviser's assumption of business, entrepreneurial, overall managerial and other risks by advising and sponsoring the Fund. The Board also considered the terms of the Agreements and the full range of services provided to the Fund under the Agreements, including the administrative and other services provided by the Adviser, and the sub-administrativeservices provided by FAS, an affiliate of the Subadviser. The Board also took into account the Adviser's oversight of the Fund's operations and other service providers. In addition, the Board considered the quality of the Adviser's and Subadviser's communications with the Board and responsiveness to Board inquiries and requests made from time to time with respect to the Fund.
The Board considered the Adviser's and the Subadviser's operations, including personnel and other resources devoted to supporting such operations. The Board recognized that the Fund may benefit from the Adviser's ability to use resources and capabilities of its affiliates in providing services to the Fund. The Board noted key personnel additions to and departures from the Adviser, as well as the Adviser's and Subadviser's succession planning practices to ensure continuity of services provided to the Funds. The Board considered the Adviser's and the Subadviser's ability to attract and retain qualified personnel to service the Fund and the experience and skills of key management and investment personnel of the Adviser and the Subadviser. With respect to the Subadviser, the Board considered the Subadviser's investment philosophy and process, investment research capabilities and resources, performance record,
Semi-Annual Financial Statements
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Board Consideration of Investment Management and Administration Agreement, Sub-advisoryand Sub-administrationAgreement (Unaudited) (Continued)
trade execution capabilities, experience and reputation. In addition, the Board noted that the Fund is a government money market mutual fund that operates in accordance with the limitations set forth in Rule 2a-7under the 1940 Act. In this connection, the Board considered the expertise of the Adviser and the Subadviser in managing money market funds, their experience with the requirements of Rule 2a-7and their commitment to managing the Fund in accordance with these requirements.
The Board considered the compliance programs and compliance experience of the Adviser and the Subadviser. In this regard, the Board reviewed information regarding the Adviser's and the Subadviser's risk management oversight activities, including "stress test" reports that were presented to the Board on a quarterly basis throughout the year. The Board noted the Adviser's and the Sub-Adviser'scommitment to maintaining high quality systems and expending substantial resources to prepare for and respond to ongoing changes to the market, regulatory and control environments in which the Fund and its service providers operate. In addition, the Board received and considered information regarding the overall financial condition of the Adviser and the Subadviser and each entity's ability to carry out its responsibilities under the Agreements.
Based on these considerations, the Board concluded, within the context of its full deliberations, that the Adviser and the Subadviser are capable of continuing to provide services of the nature, extent and quality contemplated by the terms of the Agreements.
2. Fees and Other Expenses.The Board reviewed comparisons of the management fee and total fees and expenses of the Fund to an appropriate group of peer mutual funds. In this regard, the Trustees received and reviewed a report prepared by Broadridge Financial Solutions ("Broadridge"), an independent provider of mutual fund industry data, comparing the Fund's contractual management fee, net management fee, and gross and net total expense ratios and each element of the Fund's total expense ratio (e.g., custody fees and transfer agency fees) to those paid by an independently-selected peer group of mutual funds (the "Expense Peer Group"). The Board noted that the Fund's contractual management fee was below the average and equal to the median of the Expense Peer Group. The Board also noted that the Fund's net management fee was higher than the Expense Peer Group average and median, but the Board noted other relevant factors, including information regarding differences in how the Adviser and its affiliates waive fees and reimburse expenses as compared to service providers to other funds in the Expense Peer Group. The Board also considered that the Fund's gross and net total expense ratios were below the Expense Peer Group average and median. The Board additionally considered the Adviser's undertaking to limit the Fund's operating expenses to specified levels through an expense limitation agreement with the Fund.
The Board received a description of the methodology used by Broadridge to select the mutual funds in the Expense Peer Group. While the Board recognized that comparisons between the Fund and its Expense Peer Group may be imprecise, the comparative, independently-selected information provided by Broadridge assisted the Board in evaluating the reasonableness of the Fund's management fee and total expenses.
The Board observed that the Adviser confirmed that it has no other clients with investment strategies similar to those of the Fund for purposes of comparison. The Board reviewed the information provided by the Subadviser regarding fees charged to other registered fund clients with investment strategies similar to those of the Fund and for which the Subadviser serves as primary investment adviser. The Board reviewed information about structural, operational and
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Board Consideration of Investment Management and Administration Agreement, Sub-advisoryand Sub-administrationAgreement (Unaudited) (Continued)
other differences, including the amount of assets being managed and the range of services provided, between such other clients and the Fund.
Based on these considerations, the Board concluded, within the context of its full deliberations, that the management fee and sub-advisoryfee payable under the Agreements are reasonable in light of the nature, extent and quality of the services rendered by the Adviser and the Subadviser.
3. Investment Performance.The Board reviewed the investment performance of the Fund over multiple measurement periods compared to an appropriate benchmark and universe of peer mutual funds independently selected by Broadridge (the "Performance Peer Group"). In addition, the Board considered information regarding how the Adviser and the Subadviser analyze and manage potential risks to the Fund, including the Subadviser's credit review process and the nature of the Fund's investments.
The Board observed that the investment performance (net of fees) of the Fund was below the average performance of the Performance Peer Group and benchmark index for all periods under review. In considering the Fund's investment performance, the Board generally noted other relevant factors, including the relatively tight dispersion of performance data within the Performance Peer Group, the composition and share classes used in the comparisons and the Adviser's and the Subadviser's emphasis on liquidity and capital preservation, as demonstrated in the "stress test" reports received by the Board, as well as the organizational strength and capacity of the Adviser and the Subadviser and their history with the Fund.
The Board also considered the detailed investment analytics reports provided by the Adviser throughout the year, including in connection with the approval of the Agreements. These reports include, among other things, information on the Fund's gross returns and net returns, various statistics concerning the Fund's portfolio, and a summary of various factors affecting the Fund's performance.
Based on these considerations, the Board concluded that the investment performance generated for the Fund was generally satisfactory.
4. Profitability. The Board considered information about the profitability to the Adviser, as well as Adviser and its affiliates as a whole, from services provided to the Fund and other aspects of their relationship with the Fund. The Board received and considered information regarding the methodologies and estimates used by the Adviser in calculating and reporting profitability, including a description of the methodology used to allocate certain expenses. In addition, the Board did not consider the profitability of the Subadviser to be a material factor with respect to the Board's consideration of the Sub-advisory Agreement, given that the Subadviser is not affiliated with the Adviser and the Board received a representation from the Adviser that the Subadviser's fees were negotiated at arm's length. The Board noted that the sub-advisoryfee is paid directly from the Fund although, for purposes of determining compensation under the Advisory Agreement, the Fund is deemed to have paid the Adviser, and the Adviser is deemed to have received, an amount equal to any payment made by the Fund to the Subadviser pursuant to the Subadvisory Agreement.
The Board concluded that, based on these considerations and the nature, extent and quality of the services rendered, the profits realized by the Adviser and its affiliates from their relationships with the Fund were not excessive.
Semi-Annual Financial Statements
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Board Consideration of Investment Management and Administration Agreement, Sub-advisoryand Sub-administrationAgreement (Unaudited) (Continued)
5. Economies of Scale.The Board received and considered information about the extent to which economies of scale may be realized as the Fund's assets grow and whether the Fund's fee structure reflects these economies of scale for the benefit of shareholders of Fund. In this regard, the Board noted the absence of any breakpoints in the Agreements' fee structures but considered that expense limitations and fee waivers that reduce the Fund's expenses can have the same effect as breakpoints in sharing potential economies of scale with shareholders. The Board also considered that the Adviser (and its affiliated predecessor adviser to the Fund) have added or enhanced services to the Fund over time, noting investments in business support of the Fund, including investments in personnel and technology associated with the management, operations and compliance services provided to the Fund.
The Board concluded that the Fund's fee and expense arrangements constitute a reasonable approach to sharing potential economies of scale with the Fund and its shareholders.
6. Indirect Benefits. The Board considered other benefits to the Adviser and its affiliates and the Subadviser from their relationships with the Fund. The Board noted that Fund shares are available as the exclusive cash sweep option to investors participating in certain investment advisory programs (asset-based fee programs) sponsored by Edward D. Jones & Co., L.P. ("Edward Jones"), an affiliate of the Adviser. Accordingly, the Board received and considered information about asset-based fee rates charged by Edward Jones to participants in such investment advisory programs, which the Board considered could be viewed as an indirect or "fall-out"benefit to the extent investments in the Fund support these programs. In addition, the Board considered information regarding potential "float" interest benefits received by Edward Jones in connection with transactions in the Fund's shares. The Board noted that the Adviser, Edward Jones and the Subadviser may derive a benefit to their reputations and standing in the investment community from their relationship with the Fund.
The Board also considered that the Fund pays transfer agency fees, Rule 12b-1fees and shareholder service fees to Edward Jones, which serves as the Fund's transfer agent and principal underwriter. The Board considered information provided by the Adviser indicating that the transfer agency fees, Rule 12b-1fees and shareholder service fees charged by Edward Jones to the Funds were fair and reasonable based on, among other things, industry data about fees charged by transfer agents to other mutual funds.
Conclusion
Based on the Board's deliberations and its evaluation of the information described above and other factors and information it believed relevant, the Board, including all of the Independent Trustees, unanimously approved the continuation of the Agreements for an additional year.
Semi-Annual Financial Statements
24
Board Consideration of Sub-Sub-AdvisoryAgreement (Unaudited)
Pursuant to Section 15 of the Investment Company Act of 1940 (the "1940 Act"), the Board of Trustees (the "Board" or the "Trustees") of the Edward Jones Money Market Fund (the "Fund"), including a majority of the Trustees who are not parties to the agreements or "interested persons" of any party, as defined in the 1940 Act (the "Independent Trustees"), must determine whether to approve the Fund's investment advisory and sub-advisoryagreements.
At its meeting held on November 2, 2022 (the "November 2022 Meeting"), the Board, including the Independent Trustees, considered and approved a form of sub-sub-advisoryagreement between Federated Investment Management Company (the "Subadviser"), the Fund's sub-adviserand sub-administrator,and Federated Hermes (UK) LLP (the "Sub-Subadviser" and together with the Subadviser, "Federated Hermes"), with respect to the Fund (the "Sub-Sub-AdvisoryAgreement"). In connection with the Board's review of the Sub-Sub-AdvisoryAgreement at its October 10, 2022 and the November 2022 Meeting (together, the "2022 Approval Meetings"), the Board requested, and Federated Hermes provided, comprehensive information relating to the Sub-Subadviser and the services it would provide to the Fund upon the occurrence of a BCP Event, as described below (the "2022 15(c) Responses").
Pursuant to the Sub-Sub-AdvisoryAgreement, the Subadviser delegates to the Sub-Subadviser the Subadviser's duties and obligations under the Sub-Advisoryand Sub-AdministrationAgreement by and among Olive Street Investment Advisers, LLC (the "Adviser"), the Subadviser, Federated Administrative Services ("FAS") and the Fund (the "Sub-AdvisoryAgreement"), with respect to the provision of investment subadvisory services to the Fund, such as is necessary to permit the Sub-Subadviser to discharge such duties and obligations during a "BCP Event." A BCP Event is a business continuity planning event causing the complete or partial inability of the Subadviser to perform its duties and obligations to the Fund under the Sub-AdvisoryAgreement, with respect to the provision of investment subadvisory services to the Fund. The delegation of authority to the Sub-Subadviser pursuant to the Sub-Sub-AdvisoryAgreement initiates only upon the occurrence of a BCP Event and continues for the duration of the BCP Event and covers only such duties and obligations as the Subadviser is unable to perform. Upon the resolution of a BCP Event, the delegation of authority to the Sub-Subadviser under the Sub-Sub-AdvisoryAgreement terminates, and the duties, obligations and authority contained in the Sub-AdvisoryAgreement revert back entirely to the Subadviser.
At its in-personmeeting held on May 29-30,2024 (the "May Renewal Meeting"), the Board, including the Independent Trustees, considered and renewed the Sub-Sub-AdvisoryAgreement. In advance of the May Renewal Meeting, at the request of the Independent Trustees, Federated Hermes reviewed the 2022 15(c) Responses and provided additional written information and updates relating to the Sub-Sub-AdvisoryAgreement to facilitate the Board's evaluation of the Sub-Sub-AdvisoryAgreement (the "2024 15(c) Responses"). The information furnished by Federated Hermes in the 2022 15(c) Responses, as updated by the 2024 15(c) Responses where applicable, included materials describing, among other matters: (i) the nature, extent, and quality of the services that would be provided by the Sub-Subadviser during a BCP Event; (ii) the Sub-Subadviser personnel that would provide services to the Fund during a BCP Event; (iii) the sub-sub-advisoryfee arrangement for payment of sub-sub-advisoryfees by the Subadviser to the Sub-Subadviser during a BCP Event; (iv) the financial condition of the Sub-Subadviser; (v) the Sub-Subadviser's compliance program and related policies and procedures; and (vi) other "fall-out"benefits the Sub-Subadviser may receive based on its relationship with the Fund. The Board also considered the presentations by representatives of the Adviser received at the Board's meeting held on May 2, 2024, at the May Renewal Meeting, and at the 2022 Approval Meetings (collectively, the "Meetings") concerning the services, fees, and other aspects of the Sub-Sub-AdvisoryAgreement.
Semi-Annual Financial Statements
25
Board Consideration of Sub-Sub-AdvisoryAgreement (Unaudited) (Continued)
Throughout the evaluation process, including at the Meetings, the Trustees received advice from Fund counsel, and the Independent Trustees received separate advice from their independent legal counsel, including advice regarding the legal standards applicable to the consideration of the renewal of the Sub-Sub-AdvisoryAgreement. In connection with their deliberations, the Independent Trustees met separately with their independent legal counsel on May 1, 2024 and in executive session and other information meetings on several occasions, outside the presence of the interested Trustees, Fund officers, and representatives of the Adviser, the Subadviser, and the Sub-Subadviser to consider their responsibilities under relevant laws and to discuss the Sub-Sub-AdvisoryAgreement and materials presented and other matters deemed relevant to their consideration of the renewal of the Sub-Sub-AdvisoryAgreement.
In considering and renewing the Sub-Sub-AdvisoryAgreement, the Trustees reviewed and evaluated information and factors that they deemed relevant and appropriate through the exercise of their reasonable business judgment. The Board's determination to approve the Sub-Sub-AdvisoryAgreement was based on a comprehensive consideration of all information provided to the Board. The Board did not identify any particular information or consideration that was all-importantor controlling, and each individual Trustee may have attributed different weights to various factors. A detailed summary of the important, but not necessarily all, factors the Board considered with the respect to its approval of the Sub-Sub-AdvisoryAgreement is provided below.
1. The Nature, Extent and Quality of the Services that would be Provided by the Sub-Subadviser. The Board considered the nature, extent and quality of the services that would be provided to the Fund by the Sub-Subadviser under the Sub-Sub-AdvisoryAgreement during a BCP Event. The Board considered the terms of the Sub-Sub-AdvisoryAgreement and the range of potential services that would be provided by the Sub-Subadviser during a BCP Event. The Board noted that sub-administrationservices, which would be provided to the Fund by FAS under the Sub-AdvisoryAgreement, are not within the scope of services that would be provided to the Fund under the Sub-Sub-AdvisoryAgreement. The Board considered Federated Hermes' representation that the nature, extent and quality of the sub-advisoryservices that would be provided to the Fund by the Sub-Subadviser during a BCP Event are substantially the same as that to be provided by the Subadviser under the Sub-AdvisoryAgreement.
The Board considered the Sub-Subadviser's capabilities and operations, including personnel, systems and other resources devoted to supporting such operations. In addition, the Board noted that the Fund is a government money market mutual fund that operates in accordance with the limitations set forth in Rule 2a-7under the 1940 Act. In this connection, the Board considered that although the Sub-Subadviser does not currently manage money market funds subject to Rule 2a-7under the 1940 Act, the Sub-Subadviser has extensive experience in managing and trading on behalf of registered investment companies and other short-term fixed income products whose portfolios invest in securities eligible for investment by a money market fund subject to Rule 2a-7.The Board also considered the Sub-Subadviser's commitment to managing the Fund during a BCP Event in accordance with the requirements of Rule 2a-7,and Federated Hermes' representation that the Sub-Subadviser has the necessary personnel, systems and other resources to manage the Fund during a BCP Event in accordance with the requirements of Rule 2a-7.In this regard, the Board noted that the Subadviser and Sub-Subadviser are each wholly owned subsidiaries of the same parent company, Federated Hermes, Inc., and that the Sub-Subadviser has access to the same or similar reports, analyses and systems that are available to the Subadviser in providing sub-advisoryservices to the Fund under the Sub-AdvisoryAgreement. The Board considered the Sub-Subadviser's professional personnel who would be
Semi-Annual Financial Statements
26
Board Consideration of Sub-Sub-AdvisoryAgreement (Unaudited) (Continued)
primarily responsible for providing sub-advisoryservices to the Fund during a BCP Event and their background and experience. The Board also considered the reputation and overall strength of Federated Hermes and its affiliates and the Board's past experience with the Subadviser with respect to the sub-advisoryservices it provides to the Fund under the Sub-AdvisoryAgreement.
The Board also considered the compliance program and compliance experience of the Sub-Subadviser. The Board noted that the Sub-Subadviser has adopted and implemented the same compliance program as the Subadviser and that the Sub-Subadviser and the Subadviser have the same chief compliance officer. In addition, the Board received and considered information regarding the overall financial condition of the Sub-Subadviser and its ability to carry out its responsibilities under the Sub-Sub-AdvisoryAgreement.
Based on these considerations, the Board concluded, within the context of its full deliberations, that the Sub-Subadviser is capable of providing services of the nature, extent and quality contemplated by the terms of the Sub-Sub-AdvisoryAgreement.
2. Fees and Other Expenses.The Board considered information relating to the sub-sub-advisoryfee arrangement and that the Subadviser will pay the sub-sub-advisoryfees to the Sub-Subadviser during a BCP Event. The Board noted that the sub-sub-advisoryfee would not impact the Fund's overall expenses or the management fee payable by the Fund to the Adviser given that the Subadviser, and not the Adviser or the Fund, would pay the sub-sub-advisoryfee to the Sub-Subadviser. The Board also considered that the fee payable to the Sub-Subadviser under the Sub-Sub-AdvisoryAgreement would be payable only for the duration of a BCP Event and that the sub-sub-advisoryfee would not exceed the fees paid by the Fund to the Subadviser under the Sub-AdvisoryAgreement for the provision of sub-advisoryservices to the Fund.
Based on these considerations, the Board concluded, within the context of its full deliberations, that the sub-sub-advisoryfee arrangement is reasonable in light of the nature, extent and quality of the sub-sub-advisoryservices to be rendered by the Sub-Subadviser during a BCP Event under the Sub-Sub-AdvisoryAgreement.
3. Investment Performance.Because the Sub-Subadviser has never provided investment subadvisory services to the Fund, the Sub-Subadviser does not have an investment performance record with respect to the Fund for the Board to review. However, the Board noted that the Sub-Subadviser's performance record with respect to the Fund, if and to the extent it becomes available, would be considered in connection with future reviews of the Sub-Sub-AdvisoryAgreement.
4. Profitability. The Board did not consider the profitability of the Sub-Subadviser to be a material factor in its consideration of the Sub-Sub-AdvisoryAgreement, given that the Sub-Subadviser is an affiliate of the Subadviser and the sub-sub-advisoryfee would be paid directly by the Subadviser, not the Fund. The Board also noted that the Subadviser is not affiliated with the Adviser and the Board received a representation from the Adviser that the Subadviser's fees were negotiated at arm's length.
5. Economies of Scale.The Board received and considered information about the extent to which economies of scale may be realized as the Fund's assets grow and whether the Fund's fee structure reflects these economies of scale for the benefit of shareholders of Fund. The Board noted that it is difficult to identify and quantify economies of scale in the context of a sub-sub-advisoryarrangement. However, in light of the fact that the Subadviser would pay the
Semi-Annual Financial Statements
27
Board Consideration of Sub-Sub-AdvisoryAgreement (Unaudited) (Continued)
Sub-Subadviser under the Sub-Sub-AdvisoryAgreement during a BCP Event and that such fee would not exceed the fees paid by the Fund to the Subadviser under the Sub-AdvisoryAgreement for the provision of sub-advisoryservices to the Fund, the Board concluded that it was reasonable to rely on the conclusion the Board made regarding economies of scale in connection with its review of the Sub-AdvisoryAgreement at the May Renewal Meeting. In this regard, the Board concluded that the Fund's fee and expense arrangements constituted a reasonable approach to sharing potential economies of scale with the Fund and its shareholders.
6. Indirect Benefits.The Board considered other benefits to the Sub-Subadviser from its relationship with the Fund. In so doing, the Board considered that the Sub-Subadviser may derive a benefit to its reputation and standing in the investment community from its relationship with the Fund.
Conclusion
Based on the Board's deliberations and its evaluation of the information described above and other factors and information it believed relevant, the Board, including all of the Independent Trustees, unanimously approved the renewal of the Sub-Sub-AdvisoryAgreement for an additional year.
Semi-Annual Financial Statements
28
Additional Information (Unaudited)
Proxy Voting Procedures and Proxy Voting Record
A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available, free of charge, by calling 1-800-441-2357.This information is also available through the U.S. Securities and Exchange Commission's website at http://www.sec.gov. Information regarding how the Fund voted proxies relating to portfolio securities during the 12-month period ending June 30 is available without charge, upon request, by calling 1-800-441-2357.This information is also available through the U.S. Securities and Exchange Commission's website at http://www.sec.gov.
Form N-MFP Disclosure
The Fund files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission monthly on Form N-MFP,which is available immediately upon filing. The Fund's Form N-MFPfilings are available on the U.S. Securities and Exchange Commission's website at http://www.sec.gov. Information regarding the Fund's Form N-MFPfilings is also available, without charge, by calling, 1-800-441-2357.
Semi-Annual Financial Statements
29
Investment Adviser and Administrator
Olive Street Investment Advisers, LLC
12555 Manchester Road
St. Louis, MO 63131
Sub-adviser
Federated Investment Management Company
c/o Federated Hermes, Inc.
1001 Liberty Avenue
Pittsburgh, PA 15222
Sub-Administrator
Federated Administrative Services
c/o Federated Hermes, Inc.
1001 Liberty Avenue
Pittsburgh, PA 15222
Administrative Services Provider
State Street Bank & Trust Co.
800 Pennsylvania Avenue
Tower 1
Kansas City, MO 64105
Transfer Agent, Distributor & Dividend Disbursing Agent
Edward D. Jones & Co., L.P.
12555 Manchester Road
St. Louis, MO 63131
Custodian & Accounting Services Provider
State Street Bank & Trust Co.
One Congress Street
Suite 1
Boston, MA 02114
Legal Counsel
Morgan, Lewis & Bockius, LLP
2222 Market Street
Philadelphia, PA 19103
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
One North Wacker Drive
Chicago, IL 60606
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
This Report is authorized for distribution to prospective investors only when preceded or accompanied by the Fund's Prospectus. Investors should carefully consider the investment objectives, risks, and charges and expenses of the Fund prior to investing. The prospectus contains this and other important information and should be read carefully before investing.
Edward Jones
12555 Manchester Road
Saint Louis, Missouri 63131
1-800-441-2357
www.edwardjones.com
Investment Company Act File No. 811-2993
CUSIP 48019P102
CUSIP 48019P201
Item 8. Changes in Disagreements with Accountants for Open-EndManagement Investment Companies.
Not Applicable.
Item 9. Proxy Disclosures for Open-EndManagement Companies.
Not Applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-EndManagement Investment Companies.
The Registrant's disclosure of remuneration items is included as part of the Financial Statements filed under Item 7 of this form.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
The Registrant's Evaluation and Approval of Advisory Contract summary appears in the Financial Statements filed under Item 7 of this form.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-EndManagement Investment Companies.
Not applicable to open-endinvestment companies.
Item 13. Portfolio Managers of Closed-EndManagement Investment Companies.
Not applicable to open-endinvestment companies.
Item 14. Purchase of Equity Securities by Closed-EndManagement Investment Companies and Affiliated Purchasers.
Not applicable to open-endinvestment companies.
Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's board of trustees.
Item 16. Controls and Procedures.
(a) The Registrant's Principal Executive Officer and Principal Financial Officer have reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c)under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b)under the Act and Rules 13a-15(b)or 15d-15(b)under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider.
(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d)under the Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 17. Disclosure of Securities Lending Activities for Closed-EndManagement Investment Companies.
Not Applicable to open-endinvestment companies.
Item 18. Recovery of Erroneously Awarded Compensation.
(a) Not Applicable.
(b) Not Applicable.
Item 19. Exhibits.
| (a) |
(1) Not Applicable. |
(2) Not Applicable.
(3) Certifications required by Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002.
(4) Not Applicable.
(5) Not Applicable.
| (b) |
Certifications required by Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Edward Jones Money Market Fund | ||
| By: | /s/ Colleen R. Dean | |
| Name: | Colleen R. Dean | |
| Title: | Principal Executive Officer | |
| Date: | October 28, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| Edward Jones Money Market Fund | ||
| By: | /s/ Colleen R. Dean | |
| Name: | Colleen R. Dean | |
| Title: | Principal Executive Officer | |
| Date: | October 28, 2024 |
| By: | /s/ Aaron J. Masek | |
| Name: | Aaron J. Masek | |
| Title: | Principal Financial Officer | |
| Date: | October 28, 2024 |