MINNEAPOLIS, Oct 06, 2008 /PRNewswire via COMTEX/ -- The Tamarack Funds Board of Trustees approved the participation by each of the Tamarack Money Market Funds in the U.S. Department of Treasury's Temporary Guarantee Program for Money Market Funds. Once in place, the program will provide protection to shareholders of the Tamarack Money Market Funds for balances they held as of the close of business on September 19, 2008.
"The Tamarack Money Market Funds have withstood the recent turmoil in the money market fund industry, which we attribute to our rigorous credit standards and consistent approach to risk management," said Erik Preus, president of the Tamarack Funds. "However, we decided to participate in the Treasury Department's program in order to help support investor confidence in this time of market instability."
The program provides a guarantee based on the number of shares held at the close of business on September 19, 2008. Any increase in the number of shares held in an account after the close of business on September 19, 2008 is not covered by the program.
Details on the U.S. Treasury Temporary Guarantee Program for Money Market Funds can be found at: http://www.ustreas.gov/press/releases/hp1163.htm.
About Voyageur Asset Management Inc.
The views expressed herein reflect Voyageur Asset Management Inc. as of 10/6/08. Views are subject to change at any time based on market or other conditions. This information should not be construed as a recommendation for any specific security. Past performance is no guarantee of future results.
Voyageur Asset Management Inc. serves as investment adviser for the Tamarack Funds. Tamarack Equity and Fixed Income Funds are distributed by Tamarack Distributors Inc. The Tamarack Money Market Funds are distributed by RBC Capital Markets Corporation, Member NYSE /FINRA/SIPC.
Founded in 1983, Voyageur is a Minneapolis-based investment advisor with $34 billion in equity, fixed income and money market assets. The firm employs a "multi-boutique manager" approach to investment management with offices in Boston, Chicago and Minneapolis. Voyageur is a wholly-owned subsidiary of RBC Financial Group, a broadly diversified global financial services company, and serves as the principal U.S.-based institutional investment manager drawing upon RBC for incremental financial strength, infrastructure and resources. With 25 years in the investment management business, Voyageur's team-based approach includes experienced portfolio managers and talented analysts who focus on disciplined investment processes, style consistency, and seek strong risk-adjusted performance. For more information, please visit http://www.voyageur.net
Mutual fund investing involves risk, including loss of principal. An investment in the Tamarack Money Market Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Funds. These risks are more fully described in the prospectus.
Before investing, you should carefully consider a fund's investment objectives, risks, charges and expenses. This and other information is included in the prospectus, which you can request by visiting http://www.voyageur.net/TamarackFunds or calling 800.422.2766. Please read the prospectus carefully before investing.
NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.
SOURCE Voyageur Asset Management Inc.
