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CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND
CNFXX (Mutual Fund)
CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
3.7%
1 yr return
4.1%
3 Yr Avg Return
2.5%
5 Yr Avg Return
1.6%
Net Assets
$7.1 M
Holdings in Top 10
50.7%
52 WEEK LOW AND HIGH
$1.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.02%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Money Market Fund
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CNFXX - Profile
Distributions
- YTD Total Return 3.7%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 1.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.01%
- Dividend Yield 4.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND
-
Fund Family NameCity National Rochdale Funds
-
Inception DateSep 01, 2010
-
Shares Outstanding715189560
-
Share ClassS
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Taila
Fund Description
The Government Money Fund invests at least 99.5% of its total assets in cash, U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. Government, and/or repurchase agreements that are fully collateralized by cash or government securities. In addition, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S. Government securities and/or repurchase agreements that are fully collateralized by government securities. In particular, the Fund invests in U.S. Treasury obligations, obligations issued or guaranteed as to principal and interest by agencies or instrumentalities of the U.S. Government and repurchase agreements involving these obligations. Obligations issued or guaranteed by the U.S. Government or its agencies or instrumentalities in which the Government Money Fund invests consist principally of securities issued or guaranteed by Fannie Mae (formerly known as the Federal National Mortgage Association), the Federal Home Loan Bank (“FHLB”), Freddie Mac (formerly known as the Federal Home Loan Mortgage Corporation) and the Government National Mortgage Association (“Ginnie Mae”). The securities held by the Fund must, in the opinion of City National Rochdale, LLC (the “Adviser”), the Fund’s investment adviser, present minimal credit risk. The Fund invests in compliance with the requirements of Rule 2a-7 under the Investment Company Act of 1940 relating to the credit quality, maturity, liquidity and diversification of investments for money market funds.
The Adviser seeks securities with an acceptable maturity that are marketable and liquid and offer competitive yields. The Adviser also considers factors such as the anticipated level of interest rates and the maturity of individual securities relative to the maturity of the Fund as a whole.
The Fund does not currently intend to avail itself of the ability to impose “liquidity fees” on Fund redemptions, as permitted by Rule 2a-7. However, the Board of Trustees reserves the right, with notice to shareholders, to change this policy in the future.
CNFXX - Performance
Return Ranking - Trailing
| Period | CNFXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.7% | 0.5% | 9.5% | 85.90% |
| 1 Yr | 4.1% | 0.5% | 10.5% | 95.48% |
| 3 Yr | 2.5%* | 0.7% | 5.1% | 97.66% |
| 5 Yr | 1.6%* | 0.6% | 3.2% | 97.44% |
| 10 Yr | 0.9%* | 0.4% | 2.2% | 96.43% |
* Annualized
Return Ranking - Calendar
| Period | CNFXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.0% | -0.1% | 5.0% | 97.21% |
| 2022 | 0.0% | 0.0% | 1.2% | 52.99% |
| 2021 | 0.0% | 0.0% | 0.0% | 50.55% |
| 2020 | 0.0% | 0.0% | 0.4% | 50.90% |
| 2019 | 0.0% | 0.0% | 2.0% | 51.26% |
Total Return Ranking - Trailing
| Period | CNFXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.7% | 0.5% | 9.5% | 85.90% |
| 1 Yr | 4.1% | 0.5% | 10.5% | 95.48% |
| 3 Yr | 2.5%* | 0.7% | 5.1% | 97.66% |
| 5 Yr | 1.6%* | 0.6% | 3.2% | 97.44% |
| 10 Yr | 0.9%* | 0.4% | 2.2% | 96.43% |
* Annualized
Total Return Ranking - Calendar
| Period | CNFXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.5% | 0.8% | 5.9% | 98.48% |
| 2022 | 1.0% | 0.0% | 1.7% | 76.62% |
| 2021 | 0.0% | 0.0% | 1.9% | 44.78% |
| 2020 | 0.2% | 0.0% | 3.0% | 79.22% |
| 2019 | 0.8% | 0.0% | 3797.9% | 91.82% |
NAV & Total Return History
CNFXX - Holdings
Concentration Analysis
| CNFXX | Category Low | Category High | CNFXX % Rank | |
|---|---|---|---|---|
| Net Assets | 7.1 M | 818 K | 211 B | 97.78% |
| Number of Holdings | 41 | 1 | 346 | 60.15% |
| Net Assets in Top 10 | 2.55 B | 147 K | 163 B | 61.39% |
| Weighting of Top 10 | 50.73% | 22.7% | 100.0% | 78.88% |
Top 10 Holdings
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
- Wells Fargo Repo 12.37%
Asset Allocation
| Weighting | Return Low | Return High | CNFXX % Rank | |
|---|---|---|---|---|
| Cash | 87.02% | 25.56% | 100.00% | 16.79% |
| Bonds | 12.98% | 0.00% | 74.44% | 82.22% |
| Stocks | 0.00% | 0.00% | 0.00% | 49.63% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 49.63% |
| Other | 0.00% | -1.67% | 0.04% | 49.63% |
| Convertible Bonds | 0.00% | 0.00% | 21.22% | 53.83% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CNFXX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 87.02% | 0.00% | 100.00% | 16.05% |
| Government | 11.93% | 0.00% | 44.01% | 81.48% |
| Municipal | 1.05% | 0.00% | 22.71% | 3.95% |
| Derivative | 0.00% | 0.00% | 0.00% | 49.63% |
| Securitized | 0.00% | 0.00% | 1.75% | 50.37% |
| Corporate | 0.00% | 0.00% | 100.00% | 60.00% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CNFXX % Rank | |
|---|---|---|---|---|
| US | 12.98% | 0.00% | 72.86% | 81.73% |
| Non US | 0.00% | 0.00% | 3.41% | 50.86% |
CNFXX - Expenses
Operational Fees
| CNFXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.02% | 0.07% | 2.23% | 6.67% |
| Management Fee | 0.26% | 0.03% | 0.50% | 85.93% |
| 12b-1 Fee | 0.45% | 0.00% | 1.00% | 82.46% |
| Administrative Fee | N/A | 0.01% | 0.55% | 28.02% |
Sales Fees
| CNFXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 5.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| CNFXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 5.00% | 5.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CNFXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 485.00% | N/A |
CNFXX - Distributions
Dividend Yield Analysis
| CNFXX | Category Low | Category High | CNFXX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.20% | 0.00% | 5.42% | 84.94% |
Dividend Distribution Analysis
| CNFXX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| CNFXX | Category Low | Category High | CNFXX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.01% | -1.09% | 1.67% | 53.79% |
Capital Gain Distribution Analysis
| CNFXX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.004 | OrdinaryDividend |
| Aug 30, 2024 | $0.004 | OrdinaryDividend |
| Jul 31, 2024 | $0.004 | OrdinaryDividend |
| Apr 30, 2024 | $0.004 | OrdinaryDividend |
| Mar 28, 2024 | $0.004 | OrdinaryDividend |
| Feb 29, 2024 | $0.004 | OrdinaryDividend |
| Jan 31, 2024 | $0.004 | OrdinaryDividend |
| Dec 29, 2023 | $0.004 | OrdinaryDividend |
| Dec 21, 2023 | $0.000 | CapitalGainShortTerm |
| Oct 31, 2023 | $0.004 | OrdinaryDividend |
| Sep 29, 2023 | $0.004 | OrdinaryDividend |
| Aug 31, 2023 | $0.004 | OrdinaryDividend |
| Jul 31, 2023 | $0.002 | OrdinaryDividend |
| Jun 30, 2023 | $0.003 | OrdinaryDividend |
| May 31, 2023 | $0.003 | OrdinaryDividend |
| Apr 28, 2023 | $0.002 | OrdinaryDividend |
| Mar 31, 2023 | $0.003 | OrdinaryDividend |
| Feb 28, 2023 | $0.002 | OrdinaryDividend |
| Jan 31, 2023 | $0.002 | OrdinaryDividend |
| Dec 30, 2022 | $0.003 | OrdinaryDividend |
| Nov 30, 2022 | $0.002 | OrdinaryDividend |
| Oct 31, 2022 | $0.002 | OrdinaryDividend |
| Sep 30, 2022 | $0.001 | OrdinaryDividend |
| Aug 31, 2022 | $0.001 | OrdinaryDividend |
| Jul 29, 2022 | $0.001 | OrdinaryDividend |
| Jun 30, 2022 | $0.000 | OrdinaryDividend |
| May 31, 2022 | $0.000 | OrdinaryDividend |
| Apr 29, 2022 | $0.000 | OrdinaryDividend |
| Mar 31, 2022 | $0.000 | OrdinaryDividend |
| Feb 28, 2022 | $0.000 | OrdinaryDividend |
| Jan 31, 2022 | $0.000 | OrdinaryDividend |
| Dec 31, 2021 | $0.000 | OrdinaryDividend |
| Nov 30, 2021 | $0.000 | OrdinaryDividend |
| Oct 29, 2021 | $0.000 | OrdinaryDividend |
| Sep 30, 2021 | $0.000 | OrdinaryDividend |
| Aug 31, 2021 | $0.000 | OrdinaryDividend |
| Jul 30, 2021 | $0.000 | OrdinaryDividend |
| Jun 30, 2021 | $0.000 | OrdinaryDividend |
| May 31, 2021 | $0.000 | OrdinaryDividend |
| Apr 30, 2021 | $0.000 | OrdinaryDividend |
| Mar 31, 2021 | $0.000 | OrdinaryDividend |
| Feb 26, 2021 | $0.000 | OrdinaryDividend |
| Jan 29, 2021 | $0.000 | OrdinaryDividend |
| Dec 31, 2020 | $0.000 | OrdinaryDividend |
| Nov 30, 2020 | $0.000 | OrdinaryDividend |
| Oct 30, 2020 | $0.000 | OrdinaryDividend |
| Sep 30, 2020 | $0.000 | OrdinaryDividend |
| Aug 31, 2020 | $0.000 | OrdinaryDividend |
| Jul 31, 2020 | $0.000 | OrdinaryDividend |
| Jun 30, 2020 | $0.000 | OrdinaryDividend |
| May 29, 2020 | $0.000 | OrdinaryDividend |
| Apr 30, 2020 | $0.000 | OrdinaryDividend |
| Mar 31, 2020 | $0.000 | OrdinaryDividend |
| Feb 28, 2020 | $0.001 | OrdinaryDividend |
| Jan 31, 2020 | $0.001 | OrdinaryDividend |
| Dec 31, 2019 | $0.001 | OrdinaryDividend |
| Nov 29, 2019 | $0.001 | OrdinaryDividend |
CNFXX - Fund Manager Analysis
Managers
Michael Taila
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Mr. Taila joined the former City National Asset Management (predecessor to City National Rochdale) in 2004 and has over 13 years of experience in the investment industry. He is responsible for the management of tax-free fixed income portfolios and bond selection strategies, and specializes in the research, analysis, and selection of fixed income securities. Mr. Taila also serves as a member of the fixed income team responsible for the management of the City National Rochdale Charter California Tax-Exempt Money Market Fund. Prior to joining City National, he served as Portfolio Officer at Mellon Private Wealth Management, where he assisted in the management of high-net-worth client portfolios through portfolio risk analysis, asset allocation, equity research, and trading. Other past positions include Operations Specialist for Hotchkis and Wiley Capital Management. Mr. Taila holds a BA in Anthropology from the University of California San Diego, an MBA, with a focus in Finance, from the Anderson Graduate School of Management at the University of California at Los Angeles, and a MA in International Affairs from Ohio University.
Charles Luke
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities. Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics."
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 46.68 | 15.2 | 19.01 |
